WASHINGTON (Reuters) – Expectations of a surge of job growth topping one million per month is “hyped up,” with a half million jobs a month more realistic amid a potentially slow recovery of labor force participation, St. Louis Federal Reserve president James Bullard said on Wednesday.
“I do think the labor market is tighter than is being represented” in part because some of the workers who left jobs at the onset of the pandemic are likely gone from the labor force for good, Bullard said, noting a rise in retirements.
Reporting by Howard Schneider; Editing by Chizu Nomiyama
