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

EconomyNov 12, 2021 08:15PM ET
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© 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.

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

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Comments (11)
Alan Rice
Alan Rice Nov 14, 2021 2:50PM ET
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(newsflash.) Yeah. That was it.
taylor jason
taylor jason Nov 14, 2021 1:10PM ET
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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?
Jose Cabreja
Jose Cabreja Nov 13, 2021 11:38AM ET
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🤡🤡
ravi shastri
ravi shastri Nov 13, 2021 1:18AM ET
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Yep! Vaccinate the kids and send them to school! That will do it. Atleast the productive parts of the country will carry all!
Greg Keith
Greg Keith Nov 12, 2021 11:06PM ET
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Shes knows nothing Should have put this cow out to pasture ling before Joey began his stolen term
Pratt Man
Pratt Man Nov 12, 2021 10:45PM ET
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Democrats are Patriots!!!!
palmer gossett
palmer gossett Nov 12, 2021 10:05PM ET
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crooked old hag
Al Gore
Al Gore Nov 12, 2021 9:40PM ET
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i left workforce to do stocks
Matt Brackley
Matt Brackley Nov 12, 2021 8:49PM ET
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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
By designe
Bydesigne Nov 12, 2021 8:41PM ET
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Goldman Sachs finds that 5 million people left the labor force during the pandemic.
allen chen
allen chen Nov 12, 2021 8:36PM ET
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Revenge of the mistreated, or the emergent trend of minimalist living-it-down.
allen chen
allen chen Nov 12, 2021 8:36PM ET
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So many things we think we need but really don't.
 
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