Bill Witte presents FTR's labor outlook, focusing on unemployment, employment level and employment change.
This Q&A response from the FTR Experts came from our May Economic Outlook. View the video and the key takeaways below.
- The outlook for unemployment has been essentially correct the past two quarters, but is more pessimistic going forward due to new information in the past month. Bringing those unemployment numbers down will be a slow process.
- Employment is predicted to still be down by a significant margin at the end of 2022 compared to pre-pandemic levels.