Janet Yellen is optimistic the US will still hit full employment next year, even though Delta crushed the hiring recovery
. Businesses continue to complain about hiring difficulties, and job creation stumbled last month, with the US adding just 194,000 new jobs. That was less than half the median forecast and signaled the Delta wave had dramatically slowed hiring."The labor market in many ways is very tight," Yellen told MSNBC's Stephanie Ruhle in anaired Wednesday."We suffered ...
While that transition might delay the return to full employment, it will yield benefits for years after the pandemic, Yellen said. Yellen's boss has made similar remarks on the labor shortage. President Joe Biden posed higher pay as the solution to the labor shortage in June, whispering during a press conference that employers should"Labor market data in the months since suggest firms listened. The average hourly wage has steadily outpaced forecasts and continues to climb at a faster pace than that seen before the pandemic.
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