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The unemployment rate here is 3.3%. We’re beyond full employment here. Anybody who wants a job already has one. It’s most definitely a labor shortage.
Bullsh*t.
If you want a worker, you pay the price he will accept. If he has another job, you pay what it takes to make him change jobs. It's a pay shortage. That's Econ 101.
If you can't run your business profitably without subsidies (e.g., immigration), your business needs to die.
Many people don't want to live in frigid climates either. There are far too many restaurants all over the country everywhere and that's the problem along with other low paying jobs. The solution isn't to import more "immigrants" for those jobs as the taxpayer ends up subsidizing their low wages. We need more building regulations and to encourage businesses to create more skilled career jobs at a liveable wage. We have plenty of our own American youth and less educated to take those low paying jobs.
"WHILE America’s job market has improved overall, employment opportunities for storks seem to be drying up. Last year, the total number of births in the United States fell to its lowest level in 30 years. The general fertility rate dropped to the lowest rate since the United States Centre for Disease Control started keeping records in 1909: to 60.3 births per 1,000 women aged between 15 and 44. The total fertility rate, meanwhile, which estimates the average number of children a woman could expect to have over her lifetime at current birth rates for each age, at 1.76 births per woman, is below the “replacement rate” for fertility. That is the level that keeps populations stable (about 2.1 children per woman). And it is a considerable drop from a decade earlier, when the rate was 2.12 births per woman." (my bold)
In about 25 years of no migration and no births ... no one will look back at Trump and understand, what happened, they will look to the new POTUS and blame them.
Quote:
Originally Posted by Daryl_G
By the time young adults make it through college and start their careers, pay student debt down, they are 30. If your a woman you might wait longer because your in the best career building age and having a child slows that down in our current environment. A woman having 2-3 children between 26-32 could mean big opportunity loses.
That is pretty much how the CDC put it, yes, for one of the reasons there is a decline in births, in developed countries, globally. Basically, we changed things and this is the end result.
"It’s a big headache for businesses, though. Not only do they have pay higher labor costs, they can’t find enough talent to raise production to meet growing demand. Some companies even have to reject new orders because they cannot fill them."
"The evidence captured by our survey-based measure is consistent with traditional measures of labor market tightness. In particular, models of labor market search point to the vacancy-to-unemployment ratio, v/u, as a measure of market tightness, where v denotes the number of job openings and u is the number of unemployed.5 According this measure, the labor market is tighter the greater the number of employers seeking to fill job positions relative to the number of prospective workers looking for jobs."
PS: I guess this is where people will go with the one they agree with, huh ...
If you want a worker, you pay the price he will accept. If he has another job, you pay what it takes to make him change jobs. It's a pay shortage. That's Econ 101.
If you can't run your business profitably without subsidies (e.g., immigration), your business needs to die.
I understand this concept. But if at any point there are more job openings than people looking for jobs it is considered a labor shortage. Consult a dictionary if you must.
Why would anyone ever think that a labor shortage is a bad thing? This should be the end-all, be-all of any country's economic policy. A job for everyone who wants one. Heck yes!
Except that we do not have a labor shortage. 3.3% "unemployment" just means that 3.3% of the eligible workforce is actively seeking work (i.e., applying for jobs within the past four weeks.) That's it. Then you have folks like me, comprising over one third of the potential workforce who do not have to get a job, do not want a job, and expend zero effort to find a job. Those folks, numbering in the 10's of millions, are not counted in any unemployment statistic. For more on this, google "labor participation rate." Marvel at how it's been so stable for so many years.
Why? Because getting a job, even in this economy, isn't easy if you don't already have a job or have left one recently. Every job application requires that you put down your relevant experience, and if that experience is from 5, 10, 15 years ago, you ain't getting that job. Even if I could, why would I want to work? To be yelled at by psychopathic bosses? Done that, I still have PTSD from it all these years later. Dealing with an ornery public? No thanks. Mixed-up schedule with random-crazy hours, with no guarantee of a set number of hours. It's just not worth it. It's all about the business's needs, not the employee. Well, it's certainly not my job to serve "business" needs. My job is take care of me, myself and I. Yes, I'm a selfish guy. Tough kitty.
Me and 36% of the potential workforce count ourselves out from holding a job. And for good reason. Holding down a job in 2019 is no picnic - why do it if you don't have to?
I will say it once, and I'll say it a 1000 times: we do not have a labor shortage.
This thread is fascinating. There are a good number of people here agreeing who almost never agree with each other. They may have entirely different perspectives, but net net, they agree.
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