Us Treasury Secretary Janet Yellen said the Biden administration was trying to get the job market "back on track" later this year or early next year.

"We are really worried that this crisis will cause permanent scars and we will do everything we can to help the labor market get back on track as soon as possible," Yellen said in a discussion with IMF Managing Director Christina Georgiyeva. By pushing ahead with vaccination and reopening schools, I think we can get the labor market back on track later this year or next. "

Nearly 10 million people in the United States lost their jobs in February, almost twice as many as before the outbreak, suggesting that the labor market has a long way to go. Other parts of the economy, including housing and manufacturing, are recovering faster. Us employment rose by 379000 last month, exceeding economists' estimates and the unemployment rate fell to 6.2 per cent.