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Prices today are rising at their fastest pace in decades and American concern about inflation is growing. While some amount of inflation can be the result of a healthy and growing economy, rapid, sustained inflation harms American families by wiping out their wage gains and eroding savings.
In the most recent Bureau of Labor Statistics data, there were a record 10.9 million open jobs and 2.2 million more unfilled positions than people looking for work. With unemployment still high, returning more Americans to work continues to be a top priority for both the economic and social recovery.
An improved system of power generation and transmission in the U.S. would prevent some outages, and also reduce the price of electricity to American families, businesses, and institutions through increased production and competition. This would make life for American families more affordable and more pleasant.
The labor market is going through an unprecedented realignment. Job openings reached a series high of 9.2 million in May 2021, hires and quits are near record rates, and layoff rates are at a record low. At the same time, unemployment remains elevated and labor force participation is still depressed.
Since the beginning of the COVID-19 pandemic, the scope and amount of unemployment insurance (UI) in the United States has been expanded substantially through federal legislation.
The initial job losses of the COVID-19 pandemic were considerably greater for women than for men. The two most important and credible hypotheses to explain why job losses differed by gender include the industry mix hypothesis and the childcare hypothesis.