Employment Links

"As past stories covering the Vintage 2021 estimates have suggested, domestic migration during this time period is likely driving the change. These patterns indicate that although young working-age adults are leaving the central counties of these large metro areas, they are simply relocating to other counties in the country. This may be related to the COVID-19 pandemic that created conditions enabling many workers to work from home and may have given these younger working-age adults the flexibility to relocate from areas with high concentrations of job opportunities to places with a lower cost of living or other quality of life improvements."   more »

"The nationwide coordinated law enforcement action includes criminal charges against a telemedicine company executive, owners and executives of clinical laboratories, durable medical equipment companies, marketing organizations, and medical professionals... The charges announced today allege that the telemedicine companies arranged for medical professionals to order these expensive genetic tests and durable medical equipment regardless of whether the patients needed them, and that they were ordered without any patient interaction or with only a brief telephonic conversation. Often, these test results or durable medical equipment were not provided to the patients or were worthless to their primary care doctors... In addition to the FBI, HHS-OIG, and CPI/CMS, VA-OIG, DCIS, IRS, MFCU, DEA, and other federal and state law enforcement agencies participated in the operation. more »

"The Internal Revenue Service announced today that more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, Self-Employment Tax Return – Puerto Rico." "Taxpayers can also amend their return electronically if there is change to their filing status or to add a dependent who was previously claimed on another return." more »

"So, it should not have been a surprise that the policy rate would rise fast in 2022. Rate hikes would need to be larger and more frequent, relative to the 2015-2018 tightening pace, to get back to neutral. Looking back, should the Committee have signaled a steeper rate path once the liftoff criteria had been met? Perhaps another lesson is that giving forward guidance about liftoff should also include forward guidance about the possible path of the policy rate after liftoff." more »