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Labor Shortage? Great Realignment?
Labor Shortage? Great Realignment?
No matter what you call it, hiring is difficult right now and seems to be especially difficult in the food and beverage service industry. Anecdotes abound about understaffed restaurants struggling to hire, workers pivoting from food service to new industries, and new incentives being offered to entice workers. Whether you choose to call it a labor shortage or a great realignment of labor, changes happening in the industry today will reverberate for years to come.
Labor Shortage? Great Realignment?
Pace of US job growth picks up as signs point to tight labor market
Pace of US job growth picks up as signs point to tight labor market
The US economy added 850,000 jobs in June, a noticeable pickup from the average of 546,000 jobs over the previous three months and much faster than the pace in the three months before that. This still leaves the economy 9 million jobs short of its trend.
Pace of US job growth picks up as signs point to tight labor market
Daniel Zhao on Twitter: "#JOLTS this week showed quits jumping to a record high. Some of these quits may have simply been delayed from earlier in the pandemic. There were ~5.1m "missing quits" during the pandemic at their peak in Feb 2021. Raises the question: how many more delayed quits may be coming? https://t.co/4fm91zWyui" / Twitter
Daniel Zhao on Twitter: "#JOLTS this week showed quits jumping to a record high. Some of these quits may have simply been delayed from earlier in the pandemic. There were ~5.1m "missing quits" during the pandemic at their peak in Feb 2021. Raises the question: how many more delayed quits may be coming? https://t.co/4fm91zWyui" / Twitter
#JOLTS this week showed quits jumping to a record high. Some of these quits may have simply been delayed from earlier in the pandemic. There were ~5.1m "missing quits" during the pandemic at their peak in Feb 2021. Raises the question: how many more delayed quits may be coming? https://t.co/4fm91zWyui
Daniel Zhao on Twitter: "#JOLTS this week showed quits jumping to a record high. Some of these quits may have simply been delayed from earlier in the pandemic. There were ~5.1m "missing quits" during the pandemic at their peak in Feb 2021. Raises the question: how many more delayed quits may be coming? https://t.co/4fm91zWyui" / Twitter