Why is there a labor shortage when unemployment is low?

Question

Where is everyone working at?

In: 6379

Answer 1

The key here is, they aren’t. There are more people who have exited the workplace site to early retirement or just deciding not to work. So unemployment is low, as those who want to work can find jobs. And at the same time, companies, mostly smaller ones at that, are having a hard time hiring the necessary staff.