With payroll employment remaining well below its prior peak, slow job growth would typically suggest weak demand for labor from firms and limited employment opportunities for job seekers. Current conditions in the labor market, however, may be far from typical.

More than a year after horrific job losses and wage cuts, job seekers have a strong hand in the labor market again.

Many businesses that closed during the pandemic may not be able to reopen.

Keep an eye on skills shortages, consumers’ wallets and the market’s expectations.

During the COVID-19 pandemic, many businesses had to close and unemployment skyrocketed. To help the unemployed, the CARES Act increased US unemployment benefit

Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.

Companies are forgoing investment and turning down contracts as they compete with unemployment benefits and wage increases at larger firms.