WASHINGTON: US unemployment rate is expected to gradually decline and the number of people employed will return to its pre-pandemic level in 2024, according to the Congressional Budget Office (CBO).
The Covid-19 pandemic caused “severe economic disruptions” last year to sectors such as travel and hospitality, and job losses were concentrated among lower-wage workers, the CBO said in its report titled An Overview of the Economic Outlook: 2021 to 2031.
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