The US economy added 531,000 jobs in October, according to government data released Friday.
Instead, the number of people actively searching for jobs was flat in September and October, according to Indeed, which recently polled 5,000 people in the United States.
Women with young children disproportionately left the labor force during the pandemic, and many haven’t come back.
The approval of vaccines for children aged five to 11 in the United States could mitigate some concerns about the virus that kept parents at home.
“In previous cycles, once the unemployment rate tended to drop below 5%, retirees tended to show up,” Brusuelas said.
The Bank of England surprised investors on Thursday when it opted not to raise interest rates, citing uncertainty about the effects of the end of the country’s furlough program.