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Labor force participation "quite depressed" versus pre-pandemic levels, Yellen says

Published 11/12/2021, 08:14 PM
Updated 11/12/2021, 08:15 PM
© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Phil Noble

(Reuters) - U.S. Treasury Secretary Janet Yellen said on Friday that labor force participation was "quite depressed" compared to pre-pandemic levels.

"When we really get control of the (COVID-19) pandemic, I think labor supply will go back to normal," Yellen told CBS' "Face the Nation" in an interview on Friday.

Yellen said there were several reasons for an "abnormally low" supply of labor, including a shortage of childcare workers and educators, which "creates childcare problems."

"That also tends to suppress labor supply," she added https://cbsn.ws/3n9iiR5.

Latest comments

(newsflash.) Yeah. That was it.
yellin, wake up you old bat. labor market dynamics and behavior changed with covid. nothing will go back to the pre pandemic norms including the labor market. do you expect the 800k people that died and the 3.5 million who retired to come back?
🤡🤡
Yep! Vaccinate the kids and send them to school! That will do it. Atleast the productive parts of the country will carry all!
Shes knows nothing Should have put this cow out to pasture ling before Joey began his stolen term
crooked old hag
i left workforce to do stocks
why work when the gubberment gives you free money, no rent...can set fires to stores for warmth. cured by miracle Vax....immortal needs no money
Goldman Sachs finds that 5 million people left the labor force during the pandemic.
Revenge of the mistreated, or the emergent trend of minimalist living-it-down.
So many things we think we need but really don't.
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