'As inflation continues to rise and the threat of an economic downturn looms, companies are using a range of measures to support their staff during this time.'
While inflation is a normal part of an economy, the current rate is far above the Federal Reserve's target of 2%.in its ongoing effort to bring down the rate of inflation. The general idea is that by raising the cost of borrowing money, spending will decline and there will be less inflationary pressure due to lower consumer demand., the unemployment rate is relatively low at 3.7%, according to the latest reading.
"I remain optimistic that there is a pathway to re-establishing labor market balance with only a modest rise in the unemployment rate — while remaining realistic about the risks of a larger downturn," Collins said in prepared remarks for a Boston Fed economic conference.
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