A worker uses a hoist to assemble a car seat at the Lear Corp. manufacturing facility in Hammond, Indiana.
Jim Young | Bloomberg | Getty Images
U.S. economic growth will recover “rapidly” and the labor market will return to full strength quicker than expected thanks to the vaccine rollout and a barrage of legislation enacted in 2020, according to a government forecast published Monday.
Gross domestic product, or GDP, is expected to return to its pre-pandemic size by mid-2021 and the labor force is forecast to rebound to its pre-pandemic level in 2022, the nonpartisan Congressional Budget Office said.
Importantly, the CBO said its rosier projections do not assume any new stimulus, including