Economics
Fed’s Kashkari Says U.S. Job Market Still Needs Help to Heal
- U.S. still down 8 million-10 million jobs, central banker says
- ‘Some truth’ to idea enhanced benefits keeping workers at home
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The U.S. labor market remains in a “deep hole” and needs aggressive support to speed its healing from the Covid-19 pandemic, said Federal Reserve Bank of Minneapolis President Neel Kashkari.
“We are still somewhere between 8 and 10 million jobs below where we were before the pandemic,” Kashkari said Sunday on CBS’s “Face the Nation.” He said there was “some truth” to the idea that enhanced jobless benefits create a disincentive to returning to work.