However, other parts of the economy are lagging and haven’t fully made up losses incurred from the pandemic. The most notable example is the labor market. During the pandemic, the US economy shed about 22 million jobs. Since then, we have recovered about 16 million jobs which means the US economy remains short of about 6 million jobs. Of course, the figure is higher if we also account for population growth with an average of 100,000 people entering the labor force.
Despite recent concerns about the Delta Variant, there are some reasons to be optimistic about the jobs picture. The combination of enhanced unemployment benefits expiring in September and school reopening is expected to help the US economy close the jobs gap. Other indicators like job openings and the quits rate are also at multi year highs and are indications of a strong labor market. As the economy keeps adding jobs and returns to full employment, the following 3 stocks should outperform: Kforce, Inc. (KFRC), Robert Half International (RHI), and ManpowerGroup (MAN).