Treas Sec. Yellen: April jobs report underscores the long climb back to US

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Treas Sec. Yellen: April jobs report underscores the long climb back to US




















Treasury Secretary Yellen speaking at the White House

  • we knew it would be a long road to recovery
  • April jobs report underscores the long climb back to US economic recovery
  • there has been a remarkable economic progress
  • bright economic spots in service industries expanding labor market
  • there has been remarkable economic progress
  • undeniable impact is a lack of available care for families so they can work
  • families need more support
  • 2 million women have not returned to the work force as result of childcare costs
  • Number of people working part-time declined by 600,000 and average hours increased.
  • There are people not ready or able to go back to the labor force especially parents
  • concerned about pandemic and consequences also remains a factor why people are not returning back to work
  • I don’t think additional employment point benefits is really a factor keeping workers out of the labor market
  • We have had a very unusual hit to the economy and we can expect the road back to be somewhat bumpy
  • There have been setbacks in the automotive and the lumber industry as a result of shortages as a result of the restart
  • Should never take one month’s data as the trend
  • Money from recovery plan will help boost spending over the coming months
  • I really doubt we will see an inflationary cycle

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