Yellen: BBB will boost labor supply in US
United States Treasury Secretary Janet Yellen asserted on Wednesday that the Build Back Better plan will boost labor supply in the country.
Yellen admitted that the current quit rate is the highest it’s been on record, signaling a tight labor market. Furthermore, she attributed the state of the labor force to the pandemic, with people still hesitant to return to work due to health concerns, as well as the rising death toll due to the virus, labeling it as “an unusual shock to the system.”
However, Yellen asserted that the new bill help the labor market, highlighting the Congressional Budget Office report which cited the positive impacts of the bill.
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