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Will take some time to assess nature of post-COVID job market -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Jerome Powell, Federal Reserve Chair, testifies at a hearing of the Senate Banking, Housing and Urban Affairs Committee on the CARES Act, held at Hart Senate Office Building, Washington, DC, U.S.A, September 28th, 2021. Kevin Dietsch/Pool via REUTERS

(Reuters) – It may take some time for a complete understanding of the impact on job market dynamics from COVID-19, U.S. Federal Reserve Chairman Jerome Powell stated Wednesday.

Powell said that this summer’s outbreak of infection from the Delta variety disrupted what was a strong pace of recovery for the economy. Powell made the remarks at a press conference shortly after the Fed held its latest policy meeting.

He said that COVID-19 is a major reason why people are still not able to get jobs. It will be difficult to determine how much longer it hinders an overall recovery of employment and participation in the labor market.

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