Backstay, never bought a suit, never went to Vegas
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What to do about America's "labor shortage?" Easy. Pay people more.
Why the solutions offered by the Fed and by corporate economists are dead wrong
"Jerome Powell, the Federal Reserve chair, says the United States has a “structural labor shortage” that’s unlikely to be resolved anytime soon. The U.S. Chamber of Commerce claims there are over 10 million job openings in the U.S. for which employers can’t find workers.
Here’s the truth: There is no labor shortage.
There is, however, a shortage of jobs paying sufficient wages to attract workers to fill job openings."
"Meanwhile, the federal minimum wage continues to plummet. It hasn’t been raised in thirteen years – the longest period without a raise in its history. Adjusted for inflation, its real value is the lowest it's been in 66 years.
You don’t have to be a financial wizard to see why some workers might say the hell with it. "