Omaha Steve's Labor Group
In reply to the discussion: Monsters: Those "Nobody Wants to Work" Signs [View all]paleotn
(19,702 posts)Labor markets were extremely tight and unemployment rates across most of the country were minuscule before the pandemic. Certainly in historical terms. Seasonally adjusted 3.5% nationally BEFORE the pandemic. Well below the 4.4 to 4.5% just prior to the great recession. This isn't surprising or unforeseen.
https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm#:~:text=undefined,Oct%202016%3A%204.9%25
The US population is aging, so the workforce isn't keeping up with economic growth. Hasn't been for some time and will continue to age faster in the future. Simple solution to this problem. Immigration! We need them just as much as they need us. In my mind, logical, sensible immigration reform has got to get done. Unless we want to end up in Japan's black hole of stagnation, it has to get done.
https://www.urban.org/policy-centers/cross-center-initiatives/program-retirement-policy/projects/data-warehouse/what-future-holds/us-population-aging