Fed’s Daly says dependent care is essential to supporting work

FILE PHOTO: FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses in San Francisco
FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir

November 18, 2021

(Reuters) – A high number of job postings and a low unemployment rate do not automatically mean that all people who want to work are able to land a job and some people need more support, San Francisco Federal Reserve President Mary Daly said on Thursday.

“Just saying that the labor market has a low unemployment rate is not saying that everyone who wants a job can get one because some of the barriers are not about job openings but about the network of things to support work,” Daly said during a virtual event focused on the role of care work. “Dependent care is an essential ingredient to supporting work.”

(Reporting by Jonnelle Marte, Editing by Rosalba O’Brien)