How is it that we have 8 billion people on Earth, and yet it seems like almost all businesses and services are short-staffed?
In: 11
Shortages are not universal globally, but there are various shortages due to a number of factors:
– COVID has caused millions of deaths, many of working age
– COVID has caused tens of millions of long COVID cases creating disabilities that make workers have to stop working or work reduced schedules
– COVID risks/health factors have caused some workers to leave workforce temporarily (my wife, for example, was a physical therapist but was laid off in Apr ’20 and then was hit with health issues that would be exacerbated by COVID, so hasn’t looked for new job)
– Demographics of post WW2 “baby boomers” rapidly hitting retirement age and leaving workforce
– Reduced immigration due to COVID making it harder for countries to fill labor shortages by letting more foreign workers
– Many low paid jobs have seen large pay increases due to shortages and ability to get more hours, so workers who had 2-3 jobs can now get by with 1 job
– Shifts in demand have caused workers to shift to new jobs, but not returning to old jobs as demand returns there, too…. the retail or fast food workers who went to work in a warehouse or as delivery driver stayed with new job.
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