ZM - Remote Work Is Boosting Labor Market Participation Economic Growth Acknowledges BlackRock's Rick Rieder | Benzinga
The COVID-19 pandemic has led to a seismic shift in the landscape of the American workforce, ushering in an era where remote and hybrid work arrangements have become the new standard.
This transformation has led to profound consequences, most notably an unprecedented surge in labor market participation, particularly among prime-age female workers.
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Surge In Labor Market Participation
According to the latest Monetary Policy Report issued by the Federal Reserve System on March 1, the employment-population ratio (EPOP) for prime-age women has steadily increased over the past two years, culminating in a record high in 2023. This surge in female employment can be largely attributed to the burgeoning labor force participation, fueled by the confluence of tight labor market conditions and the proliferation of remote work options.
Furthermore, real gross domestic product (GDP) surged at an annual rate of 4% in the second half of 2023, a marked ...