Quote of the Day

"To the degree that the labor shortage is caused by expanded jobless benefits or schools that are closed, it should go away in time. To the degree there is a broader rethinking of the role of work in people’s lives, this phenomenon will outlast this post-pandemic summer, whatever its temperature ultimately turns out to be."

(Neil Irwin)

Chart of the Day

The GFC saw more in the way of permanent job losses.