Yellen speaking from Dublin
Treasury Secretary Janet Yellen is on the wires from Dublin saying:
- Uncertain of the lasting nature of drop in a labor force participation
- Expects to see some revival of labor force participation over time
Later this week, the US jobs report will be released (on Friday at 8:30 AM ET). The market will get the most recent look at the jobs growth and participation rate. As the economy reopens, there are still 5 million or so jobs less than at the start of the pandemic.
Some of that/most of that(?) may be the workers leaving the workforce. That dynamic is making labor conditions particularly tight in many industries.
Adam wrote about the shipping crisis and its labor crisis in an earlier post.
