US labor market improves, but further progress will be harder - Jason Furman

November 6, 2020, Opinion: "The US economy added 638,000 jobs in October, a substantial increase but continuing the slower pace seen in recent months—even as the economy remains 10 million jobs short of its February peak. At the same time, the number of workers who reported being on temporary layoff fell by another 1.4 million, but with only 2.4 million excess temporarily laid-off workers, there is little additional room for progress here. At the same time the number of workers who were unemployed for other reasons was essentially flat, suggesting a substantial acceleration of labor market progress could be more challenging."