Fed's Barkin: Steps to lift labor supply are helpful
Where are all the workers?
One of the great puzzles in the US economy right now is the ongoing low participation rate, particularly among prime age workers.
Here's how JPMorgan sees it:
35%: financial cushion with unemployment benefits, stimulus, savings
20%: early retirees
10%: immigration and visa issues
10%: rise in self-employment
25% "other": COVID fears, child care constraints