Treasury Secretary Yellen: We’re concerned about permanent scarring from crisis

Treasury sec. on making comments at a IMF event

Treasury Secretary on is speaking at a IMF event. She says

  • pandemic has had extremely unfair impact on women’s income, employment opportunities
  • very concerned about economic scarring for women as a result of pandemic: must be addressed going forward
  • Hope by next year we can get labor market on track
  • US is addressing low wages, lack of benefits in jobs
On Friday the US nonfarm payroll rose by 379K vs. 200 K estimate. Despite the better-than-expected rise, 9.5 million jobs remained lost since the start of the pandemic. Most those jobs have impacted low income earners and women. If the economy and schools are able to reopen successfully, the hope is that those jobs do come back over time. However, there is a long way to go.