US won't reach 'maximum employment' this year: Powell

Washington (AFP) – The US labor market faces a lengthy recovery and the economy will not see maximum employment this year, Federal Reserve Chair Jerome Powell said Thursday. While he expressed hope about the restoration of jobs lost during the pandemic, Powell noted that millions of workers have left the labor force. “I think it’s not at all likely it would reach maximum employment this year. I think it’s going to take some time to get there,” Powell said during an event hosted by The Wall Street Journal. While there  is “good reason to expect job creation to pick up in coming months,” Powell …

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