Fed's Daly says U.S. job market is 'in a ditch'

March 25, 2021 7:45 PM EDT

FILE PHOTO: Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018. REUTERS/Ann Saphir./File Photo


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(Reuters) - San Francisco Federal Reserve President Mary Daly on Thursday said the U.S job market was "definitely still in a ditch," with the economy still nearly 10 million jobs short of where it was before the COVID-19 crisis.

Though economic growth is expected to surge this year and unemployment to fall, Daly said, "we are far from done ... this is not a work that we can say, victory is here - not even by the end of this year or the next will victory be before us. We really have to make sure that every American who wants a job has one, and that people are back to their livelihoods."

(Reporting by Ann Saphir; Editing by Chris Reese)



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