Author: Catherine Rampell

Behind the April jobs report: Is there a shortage of jobs or a shortage of workers?

The size of the jobs deficit — the difference between how many jobs there are today vs. pre-pandemic — remains quite large, with employment in April still 8.2 million jobs, or 5.4 percent, below the peak from February 2020. If April’s hiring pace were to continue indefinitely, it would take 2½ more years before we regained all the jobs we had pre-covid (and we actually want more jobs than that, given population growth).

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