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Yellen sees some revival of U.S. labor force participation over time -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A line of people stretches out in front a newly opened career center in Louisville (U.S.A.) April 15, 2021. REUTERS/Amira Karaoud/File photo

DUBLIN (Reuters), – U.S. Treasury secretary Janet Yellen stated Monday that although she hopes to see some return to labor force participation, it is uncertain if this current decline will be permanent or temporary.

“Even though there’s a lot demand right now for workers, many are not working in the U.S. “It’s a great question. Is it temporary or permanent? I must admit I’m not sure,” Yellen said at a Dublin event.

“I expect to see over the time a revival of labor force participation, but I don’t think we have a complete read at this stage on why it’s decreased,” she stated. She suggested that workers could be retiring earlier and not returning to work due to childcare or health issues.

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