On Friday’s broadcast of Bloomberg’s “Balance of Power,” White House National Economic Council Director Brian Deese said that one reason for the increase in labor force participation is that “we’re going into a school year that is the first stable school year” and people “have a bit more stability now, given that schools are open.”
While discussing why people are returning to the workforce, Deese stated, “I think it’s a variety of different factors. I think first and foremost, it’s the strength of the labor market. The job openings that are out there mean that people have more opportunities than they have in recent memory to take jobs and jobs that better fit their skill profile, give them more opportunities in the labor market. That’s something that pulls people in. But I think there [are] other things as well. The decline in gas prices we’ve seen over the summer makes, as we go into the fall, the fall commuting season, post-summer commuting season, makes commuting a little bit easier. And I also think the progress that we’ve seen on COVID, I don’t think we should underestimate the degree to which we’re going into a school year that is the first stable school year. And obviously, COVID is still with us and we have to still remain focused, but parents and families that are trying to sort out their lives have a bit more stability now, given that schools are open. And certainly, we expect that to continue to be the case.”
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