Appearing on “Face the Nation,” Treasury Secretary Janet Yellen warned the job market is still “in a deep hole” with “a long way to dig out.”
“I’m afraid that the job market is stalling,” Yellen warned.
“We saw that in Friday’s unemployment report, just 6,000 private-sector jobs created, 49,000 overall, and that’s after a month in which we actually saw job loss. We have 10 million people unemployed, 4 million have dropped out of the labor market and another 2 million are working part-time who really would like full-time work,” she continued “We’re in a deep hole with respect to the job market and a long way to dig out.”
In a separate interview with CNN, Yellen argued with enough stimulus the US could return to full employment next year.