Us Treasury Secretary Janet Yellen said that despite the slowdown in employment, she still expects the US economy to return to full employment "next year".
"the labour market is very tight in many ways," Ms Yellen said in an interview with MSNBC television on Wednesday morning. "the economy is still recovering from the epidemic," she said, adding that the outbreak was "an extremely, very unusual shock."
The U. S. job market made important progress in 2021, but the COVID-19 epidemic slowed the recovery. Non-farm payrolls reports in August and September were well below economists' expectations.
The unemployment rate in the US has fallen to 4.8 per cent, in part because of a shrinking labour force and some people opting for early retirement. Before the outbreak, the unemployment rate was 3.5%.