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A “Help Wanted” sign outside a restaurant in Houston on April 23. (Callaghan O’Hare/Bloomberg)
As the U.S. job market comes roaring back, there’s a growing debate about whether there are enough workers to power faster economic growth.
Companies from fast food chains like Chipotle Mexican Grill to chicken producer Pilgrim’s Pride and MGM Resorts International say they can’t find – or entice – enough workers. In earnings calls and business surveys, executives often blame stimulus checks and generous unemployment benefits for hampering hiring efforts.
But economists and policymakers are unclear about what’s really causing this gap and how long it will last. Hiring remains robust for now, indicating these labor disparities aren’t necessarily a problem. The worry is if labor shortages do persist – especially in the leisure and hospitality industry – that could slow demand and possibly lead to price increases.
‘Job Paradox’ Baffles Economists as U.S. Employers See Shortage
Bloomberg 7 hrs ago
(Bloomberg)
As the U.S. job market comes roaring back, there’s a growing debate about whether there are enough workers to power faster economic growth.
Companies from fast food chains like Chipotle Mexican Grill Inc. to chicken producer Pilgrim’s Pride Corp. and MGM Resorts International say they can’t find or entice enough workers. In earnings calls and business surveys, executives often blame stimulus checks and generous unemployment benefits for hampering hiring efforts.
But economists and policy makers are unclear about what’s really causing this gap and how long it will last. Hiring remains robust for now, indicating these labor disparities aren’t necessarily a problem. The worry is if labor shortages do persist especially in the leisure and hospitality industry that could slow demand and possibly lead to price increases.