The U.S. labor market improved at a shockingly rapid pace this year compared with the aftermath of the 2008-2009 financial crisis, St. Louis Fed President James Bullard said Friday.
“Basically unemployment has come down from the peak very fast, I’m not sure you can really absorb how shocking this is,” he said.Read: U.S. adds 638,000 jobs in October and unemployment sinks to 6.9% in strong show for economy Bullard said Congress could focus on more targeted relief for workers and businesses who are suffering disproportionately from the pandemic.
Hmm...still 10 million jobs to recover and ~700,000 file for first time unemployment each week
Watch as an equally 'shocking' reversal comes right now. Cities and states are closing down again
Not sure I agree. More pain is sure to hit many sectors in next 12-18 months. More bankruptcies to come. Stimulus is needed.