Achieving a full understanding of how labor market dynamics were affected by the Covid-19 pandemic will take some time, Federal Reserve Chair Jerome Powell said on Wednesday.
At a press conference after the last Fed’s monetary policy meeting, Powell said the wave of Delta variant infections this summer (in the US) had halted what had been a robust pace of recovery in the labor market in a context of high expectations for that a large job opening persisted amid the expiration of boosted unemployment benefits and the reopening of schools.
People remain out of the job market in part because of Covid-19, he said, and it will take time to see how long that inhibits a fuller recovery in employment and labor force participation.
Reference: CNN Brasil
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