8/3, 5:21 PM (Source: TeleTrader)
more TeleTrader news

Fed's Daly: Factors limiting labor supply aren't permanent

Federal Reserve Bank of San Francisco President Mary Daly stated on Tuesday that she sees no reason to expect that the factors that are currently limiting the labor supply will be permanent or even "highly persistent."

Daly admitted that at the moment employers cannot find workers as easily as before the pandemic, and noted that factors that are tempering the labor market at the moment include coronavirus fears and "generous unemployment benefits."

On the other hand, Daly asserted that as the economy improves workers will come off the sidelines, adding that the jobs recovery among workers ages 25 to 54 is underway and is in line with the pre-pandemic expansion.

Breaking the News / OL