Amid worker shortages, businesses face double whammy of risi

Amid worker shortages, businesses face double whammy of rising costs and wage pressure
Martha C. White
© Provided by NBC News
Steering an economy as diverse as that of the United States back onto a path of sustainable growth was bound to mean hitting a few potholes along the way. Analysts say the political blame game over unemployment insurance and price pressures misidentifies the real culprits creating asymmetries in the economic recovery.
In a labor market with a record-high number of job openings, businesses say they want to hire but can’t find workers. Labor Department data released Tuesday found that the number of open jobs hit a record 8.1 million in March on an increase of nearly 600,000 from the previous month. Jobs website Indeed.com found that listings for open positions as of May 7 were 23.4 percent higher than the baseline metric in February 2020, before the pandemic’s effects hit the U.S. economy.

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