Jobs

Fed’s Kaplan says labor market still far from maximum employment

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FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir/File Photo

(Reuters) – The U.S. economy is still in the “teeth” of the pandemic, the labor market is far from full employment, Dallas Federal Reserve Bank President Robert Kaplan said Friday.

While the distribution of coronavirus vaccines could boost mobility and economic growth, some of the people who lost jobs during the crisis will need help training for new work, Kaplan said during an interview with Yahoo Finance

Reporting by Jonnelle Marte; Editing by Chizu Nomiyama

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