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This is correct. And to add more clarity about the oft-cited labor shortage, I was at an event where the President of the Minneapolis Fed talked about how when
by jsoc815 8y ago
This is correct. And to add more clarity about the oft-cited labor shortage, I was at an event where the President of the Minneapolis Fed talked about how when he asked employers when the best of times was w/respect to hiring, their response was 2008 - 2010. He went on to say that the issue isn't really about a labor shortage but an unwillingness to raise wages because the employers were spoiled by applicants' desperation during the cited period.
- mgkimsal 8y agoI remember multiple news reports and hour-long news stories on the inability of people to get jobs because of their unemployed status. There were so many people to choose from, companies would generally ignore someone who was unemployed, regardless of the reason, preferring only to hire people who were already employed. I have no doubt that delayed the start of a recovery for months.