– this post authored by Felix Richter
When the COVID-19 pandemic hit the U.S. economy with full force in March 2020, causing stock markets and economic indicators to plummet and erasing nearly 20 million jobs in a matter of weeks, many had hoped that this crisis would go away as quickly as it had arrived. And while some sectors recovered relatively quickly once restrictions had been eased and businesses were allowed to reopen in the summer, we are now 15 months into the crisis and the U.S. labor market is still more than 7.5 million jobs short of its pre-pandemic level.
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