A cursory review of headline data on the US labor market would indicate that the job market has healed fully since the global financial crisis. However, many of the keenly watched statistics do not address the nuances of the employment situation. We believe it is important to examine long-term trends and demographic developments to obtain a more complete view on the post-crisis job recovery. Our insights regarding employment conditions could prove useful in assessing the US Federal Reserve’s future policy choices, along with the labor implications of those choices, as it strives to satisfy its dual mandate of price stability and maximum employment. Ronald Temple, Portfolio Manager/Analyst on Lazard’s Global Equity Select and US large-cap equity strategies, discusses the US job market’s current landscape and how to interpret this in the context of monetary policy.

Featured Speaker

Ronald Temple, CFA

Managing Director, Co-Head of Multi Asset and Head of US Equity

Ronald Temple is a Managing Director and Co-Head of Multi Asset and Head of US Equity, responsible for oversight of the firm's multi asset and US equity strategies as well as several global equity strategies. He is also a Portfolio Manager/Analyst on various US and global equity teams. Since joining Lazard in 2001, Ron has developed a reputation as an authority on the global financial crisis and the secular changes under way in the global economy. Beyond his day-to-day responsibilities, Ron engages extensively with a wide range of Lazard's investment professionals across the equity and debt arenas to leverage the firm's insight broadly.

Ron's unique perspectives in part arise from his broad range of previous experiences in financial services. Prior to joining Lazard, Ron was a Director and Buy-Side Equity Analyst at Deutsche Bank AG. In a previous role at Deutsche Bank, he oversaw the implementation of merger related synergies on behalf of Deutsche Bank's CEO of the Americas after Deutsche acquired Bankers Trust. During the Asian debt crisis, Ron served as business manager for Deutsche Bank's CEO and Deputy CEO of Asia/Pacific in Singapore, a position in which he supervised the Investment Banking Division and executed on strategic business changes for the Group. He also held a previous role in a global business manager function for Deutsche Bank's foreign exchange business. Ron has had extensive experience developing and enhancing risk management processes at Deutsche Bank, Bank of America NT&SA, and Fleet Financial. Ron began his career trading cash and derivatives in the interest rate and foreign exchange markets at Fleet Financial Group. Ron earned his Master in Public Policy from Harvard University and his Bachelor of Arts in Economics and Public Policy Studies magna cum laude from Duke University. He is a member of the Council on Foreign Relations, the Economic Club of New York, Duke University’s Graduate School Board of Visitors and the New York Society of Security Analysts (NYSSA). He also served as a trustee of the Link Community School in Newark, New Jersey, from 2006-2014, as a member of the Trinity Board of Visitors at Duke University from 2006-2012 and a member of the Financial Accounting Standards Advisory Council from 2013 to 2015.