Employment at US state and local governments will take another three years to fully recover from the mass layoffs of the pandemic recession, partly due to struggles in matching private-sector wage increases, according to Morgan Stanley economists.
While the private sector of the labor market surpassed its pre-pandemic level in June, the rebound in local government employment has been sluggish, and those jobs won’t fully recover until December 2025, according to a research note from the bank’s analysts Monday.
Despite saving almost $100 billion in the past 2 1/2 years from reduced payrolls, in addition to the $900 billion in ...
Getting your Trinity Audio player ready... Attorney General Fitch announced, along with 39 other states and the federal government, that an agreement with Abbott Laboratories (Abbott) to ...