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The timeless tradition of putting everything, the economy, gas prices, Dr. Seuss, on the president's lap. The forces causing this labor shortage were not caused by any president, Biden or Trump.
The true cause of the current labor shortage is the unexpectedly high number of people who retired during the pandemic. People who were maybe on the cusp of retirement deciding they've had enough, and cut short their careers a few years. We are still struggling to replace these people. Perhaps the high inflation will force these people back to work?
Unpopular opinion, but if y'all are so unhappy about exploding food prices, we could always let some cheap immigrants come over to take those jobs. Give them special visas. They would pay taxes, and the increase in labor supply will bring down wages, which should drive costs down. Ronald Reagan would be doing backflips at the opportunity.
But to say that the current labor shortage can be addressed by migrant labor would attract the pitchfork mob in the modern GOP.
The labor force participation rate, a closely watched metric indicating worker engagement, rose to 62.3%, still 1.1 percentage points from the February 2020 pre-pandemic level.
An alternative measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons, and is sometimes referred to as the “real” unemployment rate, also edged higher, to 7.2%.
I'm no Biden fan but it's pretty easy to get a job these days, especially with COVID fears dying down. There's so many employers begging for work now, it's not even funny.
You can slip on a crack and get a job in 2022. I just helped a former inmate get a job 3 weeks ago.
The employment picture isn't a single measure. It is a combination of measures and if you read the report that was in the original post, one reason given for the low number of jobless claims is that employers are loathe to lay someone off if they cannot replace them.
The number of open jobs remains high at over 11.3 million and the number of job quits, while down, was still high at over 4.3 million i the last month of data.
What we call "the unemployment rate" is one measure of six. It is the U-3. You have to look at the alternative measures to understand the complexities.
Both Republicans and Democrats use the U-3, but it isn't a hard and fast number that gives you a clear picture of the employment situation. And beyond the numbers, you have to look at the industries where there are gains and losses to understand a full picture.
The labor force participation rate, a closely watched metric indicating worker engagement, rose to 62.3%, still 1.1 percentage points from the February 2020 pre-pandemic level.
An alternative measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons, and is sometimes referred to as the “real” unemployment rate, also edged higher, to 7.2%.
The fact it happened under his administration prove his policies are working. If they weren't working unemployment would be high, right?
Like with gas prices?
Not sure how much this will help in the midterms but for those that are willing and able to work....not homeless or trying to collect benefits while working cash jobs etc. the big concern remains as inflation.
That's the 800lb gorilla and frankly it's looking unlikely it's going to abate by November and it's going to be a blood bath for incumbents (especially democrats).
My congress person is pretty good. Moderate dem in their 2nd term. I hope they don't get bounced from their seat in what is a pretty purple area.
So you are saying everything, bad or good, happens under Biden belongs to Biden, correct?
Responsibility for anything good or bad flows to the top. Lots of what is happening to gasoline prices are not Biden's doing but he's the man at the top so he takes full responsibility for it. That's how the game of politics is played.
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