The Through-the-Looking-Glass Recovery

New, complex dynamics in the U.S. Economy suggest that employment in some industries won’t come back from the pandemic.

A permanent shake-up of U.S. industries is underway. While the economy sustained massive, near-instantaneous employment loss in the early days of the pandemic, the job market has now returned to 99% of is prior strength after just two years, far faster than the job market recovered from past shocks. But the economy we have returned to usn’t the same as the one we left behind…