Labor force participation returned to pre-pandemic levels

As the employment report released on Friday showed strong employment growth across the country, labor force participation rates among workers in their prime have rebounded to levels last seen three years ago.

In February, labor force participation for people aged 25 to 54 was 83.1%, the same as in January 2020.

The data shows that women are leading the recovery. Women left the labor force at the beginning of 2020 to a greater extent than men. Now they are also returning faster than their male counterparts.

Federal Reserve Chairman Jerome Powell cited the imbalance between job seekers and jobs as one of the factors behind inflation. Speaking before Congress on Tuesday, Powell called the job market “extremely tight,” noting that there were almost two jobs for every job seeker in December.

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