Barkin concerned over pandemic ‘scarring’

Thomas Barkin, Richmond Fed President.
Tom Barkin

Tom Barkin, president of the Richmond Fed, warned that the Covid-19 pandemic may cause long-term damage to parts of the US labour force and economy.

Speaking to a Credit Suisse conference on March 21, Barkin argued that economic downturns can cause prolonged effects on employment and growth.

He identified several causes for concern. Closures forced many parents – especially women – to leave the labour force to undertake caring roles. These workers might struggle to re-enter paid employment

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