DUBLIN – U.S. Treasury Secretary Janet Yellen on Monday said she expects to see some revival of labor force participation over time but that she was uncertain about to the degree to which the current drop is transitory or permanent.
“Although there’s quite a bit of demand for workers now, many workers are remaining outside of the workforce in the U.S. It’s a good question, is it transitory or is it permanent, I must say I’m uncertain,” Yellen told an event in Dublin.
“I do expect to see over time some revival of labor force participation but I think we don’t have a perfect read at this point on exactly why it’s diminished,” she said, suggesting some reasons included workers retiring early and others not yet returning due to health concerns or childcare arrangements.
(Reporting by Andrea Shalal, writing by Padraic Halpin)
