Evan’s comments followed Friday’s closely watched U.S. nonfarm payrolls data, which showed the economy added 156,000 jobs in September, below market expectations for around 176,000.
But Evans said, “I thought it was actually a pretty good report,” noting that household employment rose. And while the unemployment rate was rounded up very slightly to 5.0 percent from the previous month’s 4.9 percent, Evans was positive on the outlook.
“When the labor force is continuing to expand a little bit, that’s a good sign. Wages going up a little bit, that’s a good sign. But it’s still not really consistent with labor market tightness,” he said. “[It’s] not anything that’s going to lead to inflation moving up above 2 percent and I want to get to 2 percent.”