Builders continue to struggle to meet demand with tight supply of materials and labor, but new home sales did go up a bit in July. We talk to a top mortgage lender to see where the housing market is the hottest. Some Chick-fil-As are closing, restaurants in a bidding war for staff. The labor shortage…
Jobs Recovery Gains Speed In States That Are Ending Federal Benefits
WASHINGTON—Many economists are scrambling to work out if the federal pandemic unemployment benefits have really discouraged workers from returning to work. There is a variety of factors contributing to the current labor shortage, they say. Early signs, however, show an acceleration in the labor market recovery in states that have ended the supplemental federal benefits early. Severe…
Despite Worker Shortages, Businesses Aren’t Offering Wage Increases
Companies faced with skilled labour shortages are not giving wage increases but are instead offering one-off bonuses or more flexible work arrangements, the Reserve Bank of Australia (RBA) said. In the June policy meeting minutes, the RBA said some companies were also choosing to “ration output” rather than pay higher wages to attract new workers….
Restaurant Owner Blames Labor Shortage for 99 Percent Increase in Chicken Wings Prices
A restaurant owner from Buffalo, New York, told Fox Business on Monday that chicken wings are getting more expensive because farms are struggling to deal with a national labor shortage. Greg Duell, the co-owner of Duff’s Famous Wings, told Fox Business that wing prices from his supplier were up 99 percent and that they couldn’t keep…
US Jobless Claims Drop to 385,000, Another Pandemic Low
WASHINGTON—The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens. The Labor Department said Thursday that jobless claims dropped to 385,000, down 20,000 from the week before. The…
House Republicans Urge Governors to Drop $300 Weekly Unemployment Boost
May 15, 2021
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House Minority Leader Kevin McCarthy (R-Calif.) and several of his GOP colleagues wrote an open letter to the nation’s governors, urging them to “put America back to work” by ending the $300 weekly pandemic unemployment boost that they blame for discouraging people from taking jobs and hurting businesses and the economy. In the letter, co-signed…
Weekly Jobless Claims at 14-month Low; Inflation Heating Up
WASHINGTON—The number of Americans filing new claims for unemployment benefits dropped to a 14-month low last week as companies held onto their workers amid a growing labor shortage that helped to curb employment growth in April. The scramble for workers comes as the reopening economy is experiencing a boom in demand, resulting in widespread shortages…
Businesses Hurt by Labor Shortage Due to Rich Federal Benefits
WASHINGTON—U.S. small businesses have faced an unprecedented economic disruption due to the pandemic and the subsequent government shutdowns. With the economic reopening, many business owners are now hit by another crisis, as they have trouble filling jobs. Many entrepreneurs cannot compete with the unemployment benefits offered by the federal government. Mark Owens, owner of USA Insulation and…
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