No question, right now companies are sucking for air, finding it impossible to ramp up fast enough as workers stay home in droves rather than return to work.
People are said to be "Scratching their heads" over why, after a year of pandemic-forced business closings, workers aren't desperate to work and earn.
There are nearly 15 million jobs going begging, according to online job site ZipRecruiter, far more than the 7.4 million "Old economy" estimate of the Labor Department.
Just 266,000 new payroll jobs were added in April, far short of the 1 million-plus estimated by Wall Street economists, even as unemployment jumped to 6.1% from 6%, rather than than the expected decline to 5.8%. Meanwhile, there are 8 million fewer America active workers today than there were in February 2020, a statistic prominently mentioned by Fed Chairman Jerome Powell in his recent testimony as a sign of economic stress.
Companies desperately need workers, but can't coax them off the sidelines.
Simply put, we're paying people not to work, thus starving companies of employees and sharply driving up prices for goods and services as companies try to make up for lost productivity.
More troubling still is that our powers-that-be seem bent on continuing to pursue irrational socialist policies that have failed repeatedly in the past - especially making millions of would-be workers into wards of the state by locking them out of their jobs.
https://issuesinsights.com/2021/05/10/dude-wheres-my-workforce/
No comments:
Post a Comment