Labor Market Resurgence Screams to a Halt – Any Silver Linings Are a Mirage

As 2020 came to a brutal end, an unequal K-shaped recovery was interrupted as the pandemic raged on while the government belatedly enacted an incomplete stimulus/relief package.

by Dave Allen
The International Forecaster

Any illusions of a recovery in the labor market have been revealed to be sheer fantasy as the specter of rising payrolls come to a screeching halt.

And the few pieces of data that look promising on the surface for the most vulnerable working Americans are actually deeply troubling upon a deeper dive.

As 2020 came to a brutal end, an unequal K-shaped recovery was interrupted as the pandemic raged on while the government belatedly enacted an incomplete stimulus/relief package.

Average hourly pay that had been slowly but consistently rising since May rose by another 23 cents in December. That looks good in the aggregate; in reality, however, it’s a bad thing.

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