Uneven job growth in NYC could deepen inequality.

The US labor market is robust, with the overall labor force participation rate at its highest since March 2020. However, the labor force participation rate for older workers (ages 55 and up) has decreased since January 2020, possibly due to residual fear of COVID-19 on the job. Meanwhile, prime-age workers (ages 25-54) are flooding back into the workforce. Other factors affecting the labor market include inflation, Long COVID, stimulus checks, prioritizing work-life balance, the opioid crisis, and slower immigration in recent years.