![]() The nation has made progress in reducing the number of hourly, salaried, gig and self-employed workers claiming unemployment benefits. Fifty-nine percent of the respondents in the NABE survey don’t expect U.S employment to reach pre-pandemic employment levels until ’23 or later. NABE’s outlook is a bit tamer, with GDP growth averaging 4.8 percent this year. The National Association for Business Economics (NABE) surveyed its members around the same time the Journal conducted its survey. will still fall 1.9 million jobs short of where it stood prior to the pandemic. If growth does indeed occur at that pace, by this time next year the U.S. Several outlier forecasts pull the average up to 546,000 jobs per month. to recoup all the recession losses by this time next year. Only a handful expect growth to exceed 700,000 jobs per month, the pace needed for the U.S. In the same Journal survey, roughly half the respondents expect growth to average 500,000 jobs or less over the next 12 months. Since April of last year, the nation has added over 14.0 million jobs, about two-thirds (62.4 percent) of the recession losses. Job growth will be healthy, but it will take longer for the nation to reach pre-pandemic employment levels. According to the Journal survey, growth will average 3.2 percent in ’22 before settling down to 2.4 percent in ’23. GDP growth has averaged 2.5 percent per year over the last three decades. GDP growth of 6.3 percent or better this year. economists, The Wall Street Journal found that over half the respondents expect U.S. In its April ’21 survey of prominent U.S. ![]() will enjoy robust growth this year and well into next. When the Bureau of Economic Analysis (BEA) releases GDP estimates for Q1/21 later this month, the bureau’s likely to report GDP has already returned to pre-pandemic levels. Real GDP grew 33.4 percent in Q3/20 and 4.3 percent in Q4/20. And at one point, nearly 33 million hourly, salaried, gig and self-employed workers filed for unemployment benefits. Real gross domestic product (GDP) fell 33.1 percent.
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