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Chart of the Week
In the US, the mismatch between labor supply and demand is top of mind for policymakers. While the ease of finding a job has returned to pre-pandemic levels, labor market supply remains suppressed due to early retirement, generous unemployment benefits, and lingering health concerns. Individuals that would otherwise take jobs on offer appear to be delaying the search.
Source: FactSet, Goldman Sachs GIR, and Goldman Sachs Asset Management