CBO projects 4.6% growth in Biden’s first year, jobs lag

The Congressional Budget Office expects the U.S. economy will grow at a 4.6% annual rate this year, but with employment not returning to pre-pandemic levels until 2024. The 10-year outlook issued Monday said the economic recovery from the coronavirus has been boosted by an unprecedented wave of government spending to combat the outbreak. While the growth estimates suggest a quick snapback in gross domestic product, the CBO shows that hiring will lag as consumer spending returns and employers bec