Labor Force Participation ‘Quite Depressed’ Versus Pre-Pandemic Levels, Yellen Says

Treasury Secretary Janet Yellen speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington on Sept. 28, 2021. Kevin Dietsch/Pool/AFP via Getty Images

U.S. Treasury Secretary Janet Yellen said on Friday that labor force participation was “quite depressed” compared to pre-pandemic levels.

“When we really get control of the (COVID-19) pandemic, I think labor supply will go back to normal,” Yellen told CBS' “Face the Nation” in an interview on Friday.