Where is everyone working at?
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Unemployment is measured as % of people *looking for work* that can’t find a job. It doesn’t coutn those who can’t work (kids, disabled) or don’t want to work for a wage-job (homemakers, retired, etc.).
So, right now, pretty much everyone who’s looking for a job has one (low unemployment). However, thanks to COVID, inflation, and businesses being slow to react a lot of people have basically said, “I’m not working for these crap wages” so they’re not trying to get work…this is the “nobody wants to work crowd” on the employer side…yes, people don’t want to work *for what the employers are currently willing to pay*. So they decry “labor shortage”…employers can’t hire as many people as they want to (because they won’t pay what are the new, now, higher market rates for labor).
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