MNI BRIEF: Fed's Barkin Sees 'Limited' Unemployment Rate Rise

The U.S. job market is in a somewhat static state where employers are not hiring a lot but are also not firing many workers, meaning the jobless rate is unlikely to climb very much, Richmond Fed President Thomas Barkin said Friday. 

"You've got less labor demand, low hiring, low firing environment, but you've also got less labor supply, and that probably means that the unemployment rate increases are going to be relatively limited," Barkin said in an interview with Bloomberg Television. (See: MNI POLICY: Fed Takes Measured Approach To Post-Sept Cuts)