Labor Market: Happy 2021, Everyone! (Well, Maybe Not Everyone.)

All good things come to an end. In January this year, what seems like a millennium ago, unemployment was at its lowest point in 50 years following 113 consecutive months of job gains; unemployment among minority groups was the lowest on record; and incomes of those under 35 rose 13% over the previous year. The longest economic expansion in the history of America showed no sign of ending.