The 2021 labor market posted its biggest jobs gain in modern history, following the huge job losses of 2020, as lockdowns and restrictions were lifted throughout the United States. Following a year that uprooted the lives of many as companies struggled to stay afloat, according to the U.S. Bureau of Labor and Statistics, an estimated 6.5 million jobs were gained in 2021, the most since 1939.
As the Omicron variant spreads throughout the world, however, economists warn that January and February job growth might be more muted. Furthermore, research shows that as many as 5 million members of the workforce might be sidelined as the highly contagious variant continues to spread. And, there is still a 3.6 million jobs deficit from the beginning of the pandemic.