You’ve probably seen the “help wanted” signs in shops and restaurant windows. Owners and managers complain that they can’t find help. And you know it’s true because it usually takes twice as long to get served as it did before COVID-19. There doesn’t seem to be enough people to fill the jobs. But is that…
Is There Really a Labor Shortage?
March 27, 2023
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Japan Posts Fewest Births in Record History, Amid an Increasingly Aged Society
March 15, 2023
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aging populationAsia & Pacificbirth rateJapanlabor shortagenewbornspopulation declinesocial welfareWorld
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New Analysis Japan saw the fewest number of births in its recorded history last year, health ministry data showed. The number of newborns in the country fell to 799,728 in 2022, down 5.1 percent from a year earlier, according to data released by Japan’s Ministry of Health, Labor and Welfare on Feb. 28, marking a…
Retirees Returning to the Workforce—Can Older Americans Resolve the Labor Shortage?
The U.S. labor shortage will not be easing up any time soon, warned Federal Reserve Chair Jerome Powell in November. One of the reasons for the immense gap in the national job market has been the surge in retirements since the beginning of the coronavirus pandemic. A Nov. 2022 report by the central bank revealed…
Legislator Calls US Farm Labor Shortage a ‘Massive Crisis’ That Will Have Serious Economic Consequences
During a Feb. 1 Congressional hearing meant to address the 2023 Farm Bill, Sen. Michael Bennet (D-Colo.) put a spotlight on the labor crisis faced by American farmers. In the session, Bennet called the protracted shortage of U.S. farm workers a “massive crisis.” “If we don’t have the labor to get these crops in, we’re going…
The Pink-Collar Worker Crisis
October 7, 2022
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AnalysisBusiness & MarketsBusiness Columnistsjob marketlabor participationlabor shortagelockdownsmandatesOpinionPandemic Responsepink-collar workerU.S. economy
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Commentary The first time I heard the phrase “pink collar worker” was two days ago from The Atlantic, which published fascinating data on what it describes as mass burnout among nurses, childcare workers, teachers, and other women-dominated professions. The phrase itself dates from the 1970s—the female version of “blue collar” one supposes—and I’m oddly surprised…
Say Goodbye to the Labor Shortage
October 5, 2022
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Commentary It was good, or at least fascinating, while it lasted. The labor shortage is ending. In the entirety of the post-lockdown period, labor markets have been behaving strangely. We’ve seen incredibly low unemployment numbers (3.6 percent) that everyone has known do not tell the whole story. That figure only calculates people in the market…
American Small Businesses Proving Resilient Despite Inflation and Labor Market Struggles
When it comes to jumping economic hurdles, small business owners are digging deep and finding new ways to overcome the impacts of inflation and workforce shortages this year. More than 31 million small businesses currently operate in the United States, with an anticipated 17 million new startups set to kick off by the end of the year….
Exploring the US Labor Shortage and Unemployment
August 23, 2022
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Commentary Businesses across the United States report that they find it hard to find staff and that vacancies are going unfilled. Meanwhile, companies are making cuts, and unemployment is expected to rise. In 2021, more than 47 million workers quit their jobs, considerably more than the 42 million in 2019. Some of these resignations were…
In Japan, Jobs Outnumber Workers Due to Aging Population and Shrinking Birth Rates: Researchers
Japan’s job availability ratio increased for the sixth consecutive month in June, indicating an increase in hiring across industries, according to data released on Friday. The jobs-to-applicants ratio climbed to 1.27 from the previous month, indicating that there were 127 job openings for every 100 job seekers in Japan, The Mainichi reported, citing data from…
How Lockdowns Caused Chaos in Labor Markets
July 5, 2022
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News analysis For most of these last 100 years, unemployment has been an obsession of both economists and government. This is because it has usually been a reliable marker in the business cycle. In good times, the rate falls and in bad times it rises. This pattern has often led to a goofy conflation of…
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