Labor Force Participation ‘Quite Depressed’ Versus Pre-Pandemic Levels, Yellen Says

1 year ago 115

Treasury Secretary Janet Yellen speaks during a Senate Banking, Housing and Urban Affairs Committee proceeding  connected  the CARES Act, astatine  the Hart Senate Office Building successful  Washington connected  Sept. 28, 2021. (Kevin Dietsch/Pool/AFP via Getty Images)

Treasury Secretary Janet Yellen speaks during a Senate Banking, Housing and Urban Affairs Committee proceeding connected the CARES Act, astatine the Hart Senate Office Building successful Washington connected Sept. 28, 2021. (Kevin Dietsch/Pool/AFP via Getty Images)

U.S. Treasury Secretary Janet Yellen said connected Friday that labor unit information was “quite depressed” compared to pre-pandemic levels.

“When we truly get power of the (COVID-19) pandemic, I deliberation labour proviso volition spell backmost to normal,” Yellen told CBS’ “Face the Nation” successful an interrogation connected Friday.

Yellen said determination were respective reasons for an “abnormally low” proviso of labor, including a shortage of childcare workers and educators, which “creates childcare problems.”

“That besides tends to suppress labour supply,” she added.

Reuters

Follow

More articles from this author