Showing posts with label labor force. Show all posts
Showing posts with label labor force. Show all posts
Friday, November 18, 2022
Very low labor participation for young men
Do we need more Harvard grads? Ask anyone who owns a company that hires people in the trades. We signed today for a new garage door. It will be 12 weeks at least--supply line, shortage of steel, and no workers despite good wages and benefits. Huge price increase since 2020. We've all heard that labor participation has not returned to pre-pandemic levels, but the truth is, it's been dropping since the 1960s. Hmmm. What was happening? The War on Poverty. 2nd wave feminism. The Pill. Huge drop in marriage rate and fathers in the home. Begins in academe and drips into the Potomac.
Thursday, August 05, 2021
Where are the workers?
Yet still Joe Biden pretends he needs to "save" Trump's booming economy with inflationary government goosing.
NFIB Chief Economist William Dunkelberg reports: [From the Wall St. Journal]
Small businesses continue to struggle to find workers to fill open positions. Forty-nine percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, up 3 points from June and a record high reading. Unfilled job openings have remained far above the 48-year historical average of 22 percent.
Overall, 61 percent reported hiring or trying to hire in July, down 2 points from June. The issue will be whether the supply of labor will cooperate. Owners’ plans to fill open positions remain at high levels, with a seasonally adjusted net 27 percent planning to create new jobs in the next three months, down 1 point from June’s record high reading.
Operating almost like a law of physics, a labor shortage naturally and reliably motivates employers to increase the incentive for employees and potential employees to show up for work. Mr. Dunkelberg reports:
Seasonally adjusted, a net 38 percent reported raising compensation, down 1 point from June’s record high of 39 percent. A net 27 percent plan to raise compensation in the next three months, up 1 point from June and a 48-year record high reading. There is little an owner can do to attract needed employees other than offer higher compensation." Where Are the Workers? - WSJ
Wall St. Journal, "Where are the workers?" Aug. 5, 2021
NFIB Chief Economist William Dunkelberg reports: [From the Wall St. Journal]
Small businesses continue to struggle to find workers to fill open positions. Forty-nine percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, up 3 points from June and a record high reading. Unfilled job openings have remained far above the 48-year historical average of 22 percent.
Overall, 61 percent reported hiring or trying to hire in July, down 2 points from June. The issue will be whether the supply of labor will cooperate. Owners’ plans to fill open positions remain at high levels, with a seasonally adjusted net 27 percent planning to create new jobs in the next three months, down 1 point from June’s record high reading.
Operating almost like a law of physics, a labor shortage naturally and reliably motivates employers to increase the incentive for employees and potential employees to show up for work. Mr. Dunkelberg reports:
Seasonally adjusted, a net 38 percent reported raising compensation, down 1 point from June’s record high of 39 percent. A net 27 percent plan to raise compensation in the next three months, up 1 point from June and a 48-year record high reading. There is little an owner can do to attract needed employees other than offer higher compensation." Where Are the Workers? - WSJ
Wall St. Journal, "Where are the workers?" Aug. 5, 2021
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