Only half of the people who lost jobs during COVID are going back to work
that Americans are now planning to retire earlier than ever, with the new retirement age coming in at 62.
But that means that 2 million Americans could be lured back into the labor force, and JPMorgan believes that they"will continue to drift back into employment" in the midst of a tight market. Some may return as their pandemic savings — whether from stimulus checks or other federal support — dwindle. It may seem paradoxical for unemployment to remain high as job openings continue to reach record highs and wages rise to lure back workers. But there's a number of reasons that holes remain. One of them is childcare, with schools facing potential closures as the Delta variant spreads. And, as The Washington Post's Heather Long, childcare is facing its own staffing crisis, as workers leave the low-paying industry — and the industry sees 126,700 fewer workers than pre-pandemic.
Women over the age of 20, who already had a lower labor force participation than men, were particularly pummeled by pandemic caregiving responsibilities. In August, the labor force participation rate for those womenThe current shortages are likely driven in part by what economists call . That means there may be a disconnect between the skills applicants have and the jobs that are available .
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