How the Labor Shortage Is Explained by 3 ‘Mismatches’ in the Economy
- You may have heard that there’s a labor shortage, as employers desperately woo workers.
- But mismatches in skills, where workers are located, and what they want out of work could be to blame.
- Those factors will probably continue to shape the strangeness of the labor market for a while.
- See more stories on Insider’s business page.
Have you heard of this labor shortage? It’s pretty wild, with millions of jobs open, and workers just not filling them.
It’s a sign of the remarkable success of the vaccination campaign under President Joe Biden. The economy began reopening in earnest through the spring and is rapidly approaching normality in the summer, even as the Delta variant…