The US economy’s return to full employment marks the end of recovery from the COVID recession. In today’s new normal, how have production and employment changed? In what parts of the economy are jobs growing faster or slower? With fewer workers now than before the pandemic, how has the labor force changed and who are the missing workers? Does price inflation and the war in Ukraine mean that a new recession is around the corner?
We address these questions in this issue of the
Quarterly Economics Briefing.
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