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More Bad Policies and Government Spending Will Worsen Labor Shortage

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13.10.2021

The September employment report released on Oct. 8 showed a modest employment gain, with 194,000 new jobs added, and a drop in unemployment from 5.2% in August to 4.8%.

What appears to be good news in the report—a 0.4 percentage point drop in the unemployment rate to 4.8%—is not all positive news. The decline is due in part to 183,000 people dropping out of the labor force as opposed to unemployed workers finding new jobs.

This is also the second month in a row of lackluster job gains that have fallen about 700,000 below expectations.

Normally, these last two subpar job reports would be bad news for unemployed workers. But with a record high 10.9 million job openings in the U.S., the poor job gains are perhaps most troubling for employers and consumers.

Without enough willing workers, employers are struggling to get the workers they need to recover from the pandemic and to meet customers’ demands. Americans across the country also continue to experience long waits, shortages of goods and services, and rising prices.

The current record-high statistic—10.9 million job openings—is simply astonishing. Not only is this 3.4 million more than........

© The Daily Signal


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