Experts Say All US Jobs , Lost During Pandemic , Will Be Recovered This Summer.
Experts Say All US Jobs , Lost During Pandemic , Will Be Recovered This Summer.
CNN reports the United States is fast approaching pre-pandemic job levels as the country makes a strong economic comeback from COVID-19.
A new report from Fitch Ratings projects the labor market in the United States will have recovered all jobs lost during the COVID-19 pandemic by the end of August.
If projections are accurate, payrolls would have returned to pre-pandemic levels in as little as two years.
Comparatively, it took nearly six and a half years for the United States economy to bounce back from the Great Recession.
Per CNN, the United States is merely 1.6 million jobs away from reaching levels seen in February 2020.
Experts say, if anything, the job market right now may be too hot.
That creates the odd dynamic of an overheated economy which may actually fizzle due to inflation.
In good news for the labor market, wages have lifted, especially among lower-income earners.
But higher wages have yet to keep up with inflation, which currently sits at a 40-year high.
Fed Chairman Jerome Powell recently said there were at least 1.7 jobs available for every unemployed citizen of the United States.
That's a very, very tight labor market -- tight to an unhealthy level.
, Fed Chairman Jerome Powell, via CNN
