Fed's Powell Says Recovery Is 'Far From Complete'

The transcript discusses the swift actions taken by Congress and the Federal Reserve to support the economy during the pandemic. It highlights the dependency of economic recovery on the virus's course and the hope offered by vaccinations. Economic indicators show improvement, with increased spending and employment, although challenges remain, particularly in sectors affected by the virus. The unemployment rate is still high, and labor market participation is below pre-pandemic levels.

What indicators suggest that economic activity and employment have improved recently?

What is the current unemployment rate mentioned in the text, and how does it relate to the labor market participation?