Economists see low unemployment and high labor-force participation as signs of labor market strength heading into 2022.
“This was a strong employment report that shows the resilience of the labor market recovery from the pandemic."
“Employment is slowing when it should be picking up because we’re still on the course set by the virus."
The NY Fed says the proportion of individuals who reported searching for a job in the past four weeks increased to 24.0% from 19.6% in July 2020.
“It’s a job seeker’s market as worker demand remains at record highs,” an economist says.
“It turns out it’s easier to put an economy into a coma than wake it up," one economist says.
With government relief checks and the accelerating vaccine rollout, "there is finally real light at the end of the tunnel."
“We're only half dug out of our hole, and each month's pace of jobs growth has been slower than the last since July."
"Hanging around the 800k+ level is still not a good place to be, especially going into the winter."
“The pace of jobs recovery apparent in today’s report suggests that we will be counting the employment recovery in years, not months or quarters."
"The downturn was so big — the hole that was dug was so deep — that it will still take probably at least a couple of years to dig ourselves out."
“The jobs report from hell is here — one never seen before and unlikely to be seen again barring another pandemic or meteor hitting the earth."
