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A key labor-market ratio has tumbled near record lows — and Deutsche Bank's top economist says the US has to create 30m jobs to reach all-time high

From businessinsider.com

The coronavirus pandemic devastated the US labor market, pushing unemployment up to highs not seen since the Great Depression by putting millions of Americans out of work. In April, the employment-to-population ratio — the percentage of those above age 16 who currently have a job — fell to an all-time low of 51.3%. In May, it ticked up slightly, but was still 52.8%, meaning that only half of working-age Americans currently have a job. Even as the US economy reopens and people go back to work, there's a long road ahead for the recovery, according to Torsten Slok, chief economist at Deutsche Bank. "To get the ... (full story)

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  • Category: Fundamental Analysis