![]() And researchers have determined the core source of this labor shortage: a wave of retirements in the generation complaining that young people lack a work ethic. The labor-force participation rate - the percentage of adults in the US who are either employed or actively seeking work - remains well below pre-pandemic levels. Three years on, even after the programs that shouldered the blame for there being "no workers available" faded away, the labor shortage remains. The shortage of labor pushed up wages for people able to keep a job, and led the more obnoxious bosses and friends of your parents to complain that "no one wants to work anymore." Many economic conservatives also blamed generous pandemic welfare measures like stimulus checks and enhanced unemployment insurance, which they claimed discouraged work. ![]() ![]() At the start of the COVID-19 emergency, there were too many potential causes of this labor shortage: loss of childcare, fear of illness, and surprisingly strong consumer demand that scrambled staffing needs. Forget quiet quitting - let's talk about loud retirementĪmong the more intensely discussed economic disruptions of the pandemic has been the widespread lack of workers. While inflation may be cooling a bit, future prosperity for millennials, Gen Zers, and beyond depends on reversing this economywide bottleneck created by boomers. The boomers' economy is brittle, stingy, and built on undersupply. Account icon An icon in the shape of a person's head and shoulders.
0 Comments
Leave a Reply. |