Boots & Sabers

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1525, 01 Feb 21

CBO Predicts Jobless Recovery


The U.S. economy is projected to grow at a robust 4.6% annual rate this year, but employment isn’t expected to return to pre-pandemic levels until 2024, the Congressional Budget Office said Monday.


The 10-year outlook said the economic recovery from the coronavirus got a boost from an unprecedented wave of government spending to combat the outbreak, such that growth could pass its maximum sustainable level in early 2025 before returning to a long-run average of 1.7%. Based on the CBO’s projections, economic growth would be the strongest since 1999.


While the growth estimates suggest a quick snapback in gross domestic product, the CBO projection shows that hiring will occur at a lag as consumer spending returns and employers become more comfortable with adding workers. CBO projected an average of 521,000 jobs will be added monthly this year, a pace that would fall to 145,000 in 2022.


1525, 01 February 2021


  1. Mar

    Well, Senile Joe and his fellow liberal extremists are doing their best to prove the CBO wrong by trying to destroy the economy.

  2. Jason

    2024… 2025…. right around the time Biden will have lost his job. Ironic…

  3. Mar

    You give him until, Jason?
    My over/under is about a year.

  4. Jason

    Yeah, I meant to type in “The Harris-Biden Administration”.

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