Janet Yellen Evaluated The Weak Employment Data

Janet Yellen evaluated the weak employment data. Yellen stated that this reflects "ongoing progress".

US Treasury Secretary Janet Yellen stated that the increase in non-farm employment in April reflects the "continuing progress" in the economy, and expressed her belief that full employment will be reached next year. Janet Yellen, who attended the press conference held at the White House, said that when they took office, the economy was in a crisis and they implemented the American Rescue Package as a solution. Expressing that they know that the road to economic recovery will be long, Yellen explained that the increase in employment of 266 thousand people in April reflects "ongoing progress". Stating that encouragement should be taken from the growth of the workforce, Yellen said that this is a hopeful sign of the economy to overcome the epidemic. US Treasury Secretary Janet Yellen used the following statements: "We've made remarkable progress nonetheless. One year ago, we learned that more than 20 million people lost their jobs in one month. I believe we will reach full employment next year. But today's figures show that our economy is continuing to recover and is not over yet. As our economy continues to recover, It's important to think of ways we can build better. And one of those ways is to remove barriers to higher labor market participation. While we can now see continued job growth, more employment will ultimately require more people to join the labor market. " According to the employment report released by the US Department of Labor in April, non-farm employment in the country increased by 266 thousand people in April and remained below market expectations. The unemployment rate increased from 6 percent to 6.1 percent.