One could argue that no single measure of the economy was more severely impacted by COVID than employment.  In the course of a single month in 2020 unemployment jumped from 3.5% to 14.8% on a seasonally adjusted basis.  For reference, the last time unemployment was that high was before World War Two.

As the stresses and issues of COVID decline, the latest unemployment data are indicating a strong willingness by employees to get back to work and of employers to hire.  The percentage of reentrants to the workforce as a percentage of total unemployed rose greatly in March of 2021, exceeding by a wide margin all previous readings over the last 12-months.  Furthermore the data show that reentrants to the workforce who went back to their former job rose in March to the highest level since October.  Overall the message is clear that many prospective workers are finding their way back into the labor force now after being sidelined for many months.

Workers and employers are making great strides in bringing those who have been out of work for many months back into active employment.