The short-term economic boost that the GOP-proposed tax cuts would generate wouldn't be sustainable without growth in the already-tight labor market.
The Fed chair says the 3% target "would be quite challenging" given sluggish productivity and declining labor force growth.
While nonfarm payrolls rose by 215,000 last month, the gain was likely not strong enough to ignite inflation fears.
The shift to part-time workers, temps, and independent contractors may cut costs and offer more flexibility. But beware union discontent and the IRS.
