Fed's Ferguson sees possible 'labor hoarding'

NEW YORK (AFX) - Federal Reserve board of governors vice chairman Roger Ferguson said historically tight labor markets, following the prolonged period of economic growth, may be forcing companies into "labor hoarding."	    He said companies are unwilling to lay off workers even when confronted with slower growth prospects, because they fear losing the skills and strengths that such employees bring to the company. This process will hold the unemployment rate low.	    Ferguson, who declined to go into specifics ahead of tomorrow March employment report, said the employment market "tends to be a lagging indicator," of the economy as a whole. 

Related stock : (NIL)