Media Statement: Number of people working hasn’t caught up to pre-pandemic levels
On Friday, the U.S. Bureau of Labor Statistics announced that total non-farm payroll employment rose by 528,000 in July. The result was much higher than expected.
The Georgia Center for Opportunity’s (GCO) take: “Friday’s jobs report is being billed as great news, but peeling back a few layers reveals a worse reality,” said Erik Randolph, GCO’s director of research. “It’s true the number of jobs in the United States is now at pre-pandemic levels. The difference is that the number of people who are actually working hasn’t caught back up. That implies more people are working two or even three jobs to make ends meet in this highly inflationary environment. Meanwhile, wage growth isn’t keeping pace with inflation, putting poor and working class Americans even further behind.”