US Labor Markets Since March 2020: A Conversation With Ayşegül Şahin

Host Steven Davis and guest Ayşegül Şahin explore the extraordinary behavior of US labor markets since the onset of the COVID-19 pandemic. They explain how the global crisis spurred remote work, instigated the "great resignation," drove job vacancy rates to all-time highs, restrained overall wage growth, and altered the structure of wages. Steve and Ayşegül also discuss how the recession and recovery since March 2020 really was different than earlier cyclical episodes, making it harder for the Fed and other policymakers to assess the state of the labor market. They also remark on how the rise of remote work presents new challenges and options for employers and workers, including the opportunity to expand labor-force participation among women with young children and people with physical impairments. It’s an episode packed with insights for economists, journalists, policymakers, and anyone curious about the post-pandemic job market.