CBO sees rapid growth recovery, labor force returning to pre-pandemic level by 2022

Posted on AllSides February 1st, 2021
From The Center

U.S. economic growth will recover “rapidly” and the labor market will return to full strength quicker than expected thanks to the vaccine rollout and a barrage of legislation enacted in 2020, according to a government forecast published Monday.

Gross domestic product, or GDP, is expected to return to its pre-pandemic size by mid-2021 and the labor force is forecast to rebound to its pre-pandemic level in 2022, the nonpartisan Congressional Budget Office said.

Importantly, the CBO said its rosier projections do not assume any new stimulus, including President Joe Biden’s...

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https://www.cnbc.com/2021/02/01/cbo-report-foresees-rapid-growth-recovery-labor-force-revival-by-2022.html

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