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


© 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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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.