U.S. business owners claim they have millions of job openings but few workers willing to fill them. Currently, there are 9.3 million jobs open…Shocking that with a de-facto universal basic income…that large numbers of people refuse to seek work. Nothing builds a perpetual underclass more than widespread welfare to healthy adults.
The labor shortage has hit the construction, manufacturing, transportation and restaurant sectors particularly hard, Wade said. But the scarcity of workers has impacted all corners of the economy. No one is wanting to return to work when they are getting paid more by the government to sit at home. Every store/restaurant around me is begging people to come to work.
Chipotle Mexican Grill Inc., on May 10 announced that it would boost its minimum worker pay to an average of $15 per hour by the end of June as it looks to hire 20,000 new workers. The company also said it would pay hiring referral bonuses for current workers and a range of other benefits, including a path to six-figure annual pay for employees who move into management.
Timothy Spence, president of Fifth Third Bancorp, said labor shortages in skilled trades had impacted multiple sectors.
Average hourly earnings jumped 0.7% from March to April, while the average number of hours worked jumped to 35 in April, up about 2.3% from April 2020.
This suggests that employers are turning to higher wages to entice workers off of their couches and also asking current employees to work longer to cover scheduling gaps.