article source: CNBC
- The president in 2021 will face some tough economic challenges.
- The improvement in the labor market, with a better-than-expected October payrolls number, alleviates some of the pressure.
- “We definitely are seeing signs of recovery in demand in every pocket of the labor market,” said Karen Fichuk, CEO of Randstad North America.
As Joe Biden assumes the presidency in 2021, he will face a challenging economy but have the benefit of an employment picture at least that appears to have some unexpected momentum.
The 638,000 nonfarm payrolls gain in October underscored both the resilience of the economic system as well as how far the business community has to go yet from the damage done during the first two months of the coronavirus pandemic.