The US labor market remained on fire in March with a record 4.5 million workers quitting their jobs, new data from the Bureau of Labor Statistics showed Tuesday.
The US jobs market has come a long way since the worst days of the pandemic when
more than 20 million Americans lost their jobs. Now the recovery is moving into
a new phase -- one that will likely be slower.
Trade is about to become a key element of the global response to Russia’s invasion of Ukraine following the array of sanctions that have already been imposed.
The labor shortage has been a defining feature of the pandemic job market and it’s not getting better any time soon. But there is a whole group of workers who are being overlooked even though they could be part of the solution.
America’s “Great Resignation” has transformed the workforce, leading to higher wages and better conditions for many. It has also left a mark on the nation’s high rate of inflation.
The Federal Reserve is getting ready to raise interest rates, the central bank said in its monetary policy update Wednesday. But it kept rates near zero for now.