- Despite record monthly job growth this spring and summer, we have recovered only half of the lost jobs lost during the frenetic initial weeks of the pandemic.
- The jobs recovery is stalling as “temporary” furloughs convert into permanent job losses, hiring slows, new claims for unemployment remain stubbornly high, and more layoffs loom.
- The gathering headwinds suggest that the recovery will slow further or even reverse absent another round of robust government stimulus.
- Regardless, a full jobs recovery will take at least until early 2022. Most likely, it will take considerably longer.
For further details see:
Healing But Hurting: An Ailing Labor Market Is Stalling