No, it hasn’t been the job recovery many had expected. But there’s room for hope

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A woman walks by a ‘Now Hiring’ sign outside a store in Arlington, Va., on Aug. 16. The labor market is expected to have improved last month after disappointing growth in August.

Olivier Douliery/AFP via Getty Images


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Olivier Douliery/AFP via Getty Images


Business
Faced with losing their jobs, even the most hesitant are getting vaccinated

Employers added just 235,000 jobs in August, compared to well over a million jobs in July. Restaurants and retail shops actually cut workers that month, as fear of the virus discouraged customers from eating out and shopping.

However, since then, the health outlook has improved. New infections, hospitalizations, and deaths have all fallen in recent weeks. ADP’s model shows private employers added 568,000 jobs in September, with nearly 40% of that growth coming in the sensitive hospitality sector.

«This is due to the massive restaurant and bar industry, which will continue providing a significant tailwind to growth,» Richardson says.


Business
Did Ending Pandemic UI Benefits Push Americans Back To Work?

Employers also hope that the end of the emergency pandemic programs nationwide in early September will spur more people to return to work.

More than seven million people dropped off the unemployment rolls last month and there have been early signs that some of them are going back to work.

«We saw it,» says Mike Parra, Americas region CEO for the delivery company DHL Express. «The moment [benefits] stopped in Ohio and in Kentucky, we saw a mad dash into the buildings.»

Parra has been trying since June to staff up for the busy holiday season.

«It’s not been easy,» he says. «It’s definitely been different than in the past as a result of, first and foremost, the pandemic in itself.»

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Students and parents arrive masked for the first day of the school year at Grant Elementary School in Los Angeles on Aug. 16. The reopening of schools has raised hope some parents may return to the labor force.

Robyn Beck/AFP via Getty Images


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Robyn Beck/AFP via Getty Images


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These Older Workers Hadn’t Planned To Retire So Soon. The Pandemic Sped Things Up

Federal Reserve Chairman Jerome Powell, who’s 68, is not convinced that all those older workers have drawn their last paycheck. As the public health outlook and the job market improve, Powell hopes at least some experienced hands decide to come back to work.

«The lore is that people don’t come out of retirement,» Powell said last week during a Congressional hearing. «Except I would say, all during the last few years of the very long expansion that ended with the pandemic, we were constantly surprised to the upside on participation, including older people staying in the workforce longer.»

  • working parents
  • retirees
  • U.S. economy
  • Jobs
  • Unemployment

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