Gig Worker Undercount May Give Fed More Room on Inflation Fight
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Research suggests millions of gig workers may be undercounted in US jobs data, affecting Fed's view of labor market.
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Undercount could be a few hundred thousand to 13 million, a 5% swing in adult workforce.
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Fed may have more room to let job market run before worrying about inflation.
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Accurate employment data critical for Fed to balance inflation and maximizing employment.
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If labor supply higher than thought, economy can grow more without fueling inflation.