The US job market probably won't recover until 2024...

[r2d2]

The pace of America's jobs recovery has surprised many economists. After losing a record-breaking number of jobs -- more than 22 million -- in the wake of the spring lockdowns, the economy added back roughly half of those lost positions over the summer.

As of last week's October jobs report, the United States is still down about 10 million jobs since February, with the nation-wide jobless rate at 6.9% and millions of workers relying on government benefit programs created during the crisis.

It will take a lot of time and work to keep the recovery going.

 

In a report over the weekend, Goldman Sachs (GS) economist Joseph Briggs predicted the unemployment rate will decline to 6.6% by year-end. But "full employment" -- an economic term used by the Federal Reserve to signify a healthy job market -- won't be achieved until mid-2024, just in time for Joe Biden (or Vice President-elect Kamala Harris) to seek re-election.

By the end of 2024, Briggs expects an unemployment rate of 3.9% -- above the pre-pandemic level, but still healthy.

 

 

no prizes for guessing the source of this piece... 

 

[dasara_bullodu1]

CNN is a disgusting piece of journalism