Why is there a labor shortage when unemployment is low?

Question

Where is everyone working at?

In: 6379

Answer 1

Because “low unemployment” and “labor shortage” mean the same thing. They both mean “not enough people looking for work to fill all the positions.” If you run a “news network” and you want the incumbent to look good, you say “low unemployment” and if you want to scare the ownership class you say “labor shortage.” Two slightly different ways of looking at the same thing.