Hiring up, but Yellen ‘dashboard’ signals caution

Published August 2, 2014 1:01pm ET



WASHINGTON (AP) — With employers ramping up hiring and the unemployment rate sinking in the past year, pressure is rising on Janet Yellen’s Federal Reserve: Is the time near to raise interest rates to prevent a strengthening economy from igniting inflation?

The easy answer might be yes. Employers, after all, have added an average 244,000 jobs a month since February — the best six-month hiring spree in eight years. And at 6.2 percent, the unemployment rate is just above the 6.1 percent average for the past seven decades.

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