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CBO Sees Rapid Growth Recovery, Labor Force Returning to Pre-Pandemic Level by 2022
Monday, February 1, 2021
Vancouver, BC, February 1, 2021--U.S. economic growth will recover "rapidly" and the labor market will return to full strength quicker than expected thanks to the vaccine rollout and a barrage of legislation enacted in 2020, according to a government forecast published Monday. Gross domestic product, or GDP, is expected to return to its pre-pandemic size by mid-2021 and the labor force is forecast to rebound to its pre-pandemic level in 2022, the nonpartisan Congressional Budget Office said. Importantly, the CBO said its rosier projections do not assume any new stimulus.
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