Pace of US job growth picks up as signs point to tight labor market - Jason Furman

July 2, 2021, Opinion: "The US economy added 850,000 jobs in June, a noticeable pickup from the average of 546,000 jobs over the previous three months and much faster than the pace in the three months before that. This still leaves the economy 9 million jobs short of its trend. At the same time the unemployment rate rose to 5.9 percent while labor force participation was unchanged. The “realistic” unemployment rate (which adjusts for the unusually large reduction in labor force participation) was flat."

HKS Authors - Jason Furman and Willie Powell