It took many years for American jobs to recover

Washington,– U.S. Treasury Secretary Janet Yellen says U.S. jobs are “stuck” and will not recover for years from the impact of the Govt-19 epidemic.

As announced E, On Sunday (7/2), Yellen said it would be difficult to restore U.S. jobs without the support promised by President Joe Biden with his epidemic aid package.

Citing employment figures since Friday (5/2), Yellen said at the event as the economy added 49,000 jobs. TV CBS “Face the Nation, “We are in a deep hole in the job market and it will take a long time to find a way to do that,” he said.

But in a separate interview CNNYellen estimates that if Biden’s $ 1.9 trillion package is completed, U.S. workers will return to full employment by 2022.

Without that help, the unemployment rate will continue to rise for many years to reach four percent by 2025.

Yellen added that millions of Americans will starve or lose their homes.

Responding to Republicans’ concerns that many wealthy Americans received money from stimulus aid last year, Yellen said there would be “more targeted aid” this time around. He said President Biden would discuss the details with members of Congress.

Another danger posed by Republicans and some economists is that Yellen acknowledged the risks that a large expenditure package could trigger inflation.

“We have a way to deal with that risk,” he said.

Meanwhile, three new grants of US $ 3.35 million (Rp.46.9 billion) will be used for cancer research and teaching at the New Hampshire Cancer Center.


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