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U.S. job market in a “jumble,” but economy on firm footing By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Raphael W. Bostic is the President and Chief executive officer of Federal Reserve Bank of Atlanta. He spoke at an event called European Financial Forum, Dublin. February 13. 2019. REUTERS/Clodagh Kilcoyne/File Photo

WASHINGTON (Reuters) – The U.S. labor market is in a “jumble” as workers sort out child care and navigate an ongoing pandemic, but the country remains on track for a full recovery, Atlanta Fed president Raphael Bostic said on Tuesday.

Bostic stated that there is “a lot of confusion and a lot of chaos and a lot of turmoil” in the United States as families try to balance work and family obligations. He also said that automation has been a major factor in the ongoing coronavirus crisis. The economy’s trajectory is stable at the end. Based on the models I have seen and data that I see, we appear to be well-positioned for a complete recovery. The momentum will continue even with the rise in Delta.

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