The Post-Pandemic Labor Market's Long-Term Scars by Laura Tyson & Susan Lund
Next According to the latest official figures, overall US employment is still down by about 9.5 million jobs from when the recession hit, and by nearly 12 million from its pre-pandemic trend. Unemployment, adjusted for the sharp drop in labor-force participation, is around 10%, and the rate is even higher for African-Americans, Hispanics, women, and the less educated, reflecting both the dual nature of the pandemic and longer-running labor-market disparities. Another trend that predates COVID-19 is the transformation of work through automation and digitalization – processes accelerated by h...