Why we have a labor shortage!

Currently, the US. has 11 million job openings. This is a record number of openings. And at the same time, there is a record number of people dropping out of the labor market. That is the major reason for the labor shortage. People do not want to work! Here is why:

1. Some people fear Covid and/or do not want to wear masks all day. Government policies that require masks at work are part of the problem.
2. Millions of people got used to not working during the pandemic. They liked being at home. Some had to be home in 2020 for childcare, but now that schools are open, they can and should work again.
3. People have money. Regrettably, the 4th Stimulus payment is being made this week. Many are receiving child tax credits, unemployment, enhanced food stamps, rent relief, and many other cash payments. The top job search sites in the US. reported a dramatic decline in search activity when the first “stimulus” payment was made.
4. Personal savings accounts are at a record high., over $1.4 Trillion in US saving accounts. People are living on their savings. People saved money in 2020 since the economy was shutdown. No travel, restaurants, etc. AND- many did not have to pay rent!!!!
5. Student loan payments were “paused” beginning March 2020. About 44 million people have student debt. The average loan payment was about $390/month. But that payment was “paused” by Biden. This is another reason people are not working. They don’t have to pay their loans.
6. People got used to their leisure time. The USGA reports record numbers of golf rounds being played in 2020 and 2021 I live near a golf club. I see hundreds of young men and women playing golf and tennis during the day. Everyday! They are not working, or they are “working” from home. What a crock! Our national parks report record numbers of visitors this year. Yellowstone was so crowded that the Park Service had to limit traffic.
7. Video games have hurt the labor force. Young men are playing video games all day. UGH! Some work part-time so they can afford “Call of Duty.” That video game had $3 Billion in revenue in 2020!!! More sales than most small corporations.
8. There is no skills mismatch! That is also a crock. The skills needed for these open positions are available. People don’t or won’t work.

When all the savings are gone and all the government payments stop; and rent payments and loan payments come due, people will go back to work. It is that simple!!!!