Fed Chair Jay Powell attempted to answer some questions Wednesday regarding the worker shortage our country is facing. While this phenomenon isn’t recent, as it has been a hard hitter since the beginning of the pandemic, it is still threatening our society today. Powell said that there are around 3.5 million fewer workers now than was forecasted for this time. A large portion of that group, around 2 million people, is attributed to “excess retirements.”
Factors of the COVID-19 pandemic, like health concerns and inflation issues, have attributed to reasons many have retired earlier than expected without a new group at an age ready to replace as fast as necessary to keep numbers where they would need to be to escape shortage status. Without a new working-age population ready to take over and a lack of immigration, the country is where it is currently – with many worker shortages across the country pausing demand chains for a variety of goods and services.
Powell however mentioned that the Fed’s role in labor is to manage the demand rather than supply it. So he can only provide suggestions as to why the force is the way it is. His one suggestion, which he stated has stood for decades, is that Congress could potentially help population growth issues.
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biden’s criminal actions.
We got the population…..
Where are the employed
Doing nothing but complaining about how terrible the USA is…
Hmm…
Part of the problem is that we have aborted over 60 million people way before they had a chance to become of age to work. “Choices” have consequences.
GOD is going to destroy us for the murder. Socialism is going to make us suffer for being stupid and cowardly
Hope you will not go the way Venezuela did
Jivin’ Joe conned people to cower at home in the basement so that he and his goons could steal an election through duplicated fake ballots, all the while showering people to stay home, ruining the economy with mega-inflation and facilitating destruction of a national work ethic. And many people, if given a free handout, would prefer sitting at home to punching a time clock or loping the daily treadmill.
laziness and socialism (stealing from one group, to give to the lazy or stupid)
The ones employable have an entitlement mentality, have wrong education. The other 4 million can’t speak English and are not documented. Why should they work , government is giving them money just because!
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