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Lets break it down who is missing from employment. - Almost million died due to Covid. - A lot of olders or those who can retire, left the workforce - Some too
by newhotelowner 5y ago
Lets break it down who is missing from employment.
- Almost million died due to Covid.
- A lot of olders or those who can retire, left the workforce
- Some took flexible jobs - like uber/lift or food delivery or groceries or amazon delivery
- Legal immigration is closed for year and half. That is almost 2 million working individuals
- Few people that I know who got covid, and are in 40s & 50s don't feel that they are recovered 100%. After 10 months, my manager can't smell as she used to.
- People like my wife who don't need to work are staying home.
I am sure there are few other groups that I don't know about. That is a lot of people missing from the workforce and won't show up in unemployment data.
- nradov 5y agoThe vast majority of COVID-19 deaths were in the 65+ age group. They were mostly not employed and their deaths, while tragic, didn't significantly reduce the labor pool. https://www.cdc.gov/coronavirus/2019-ncov/cases-updates/burden.html https://www.cdc.gov/coronavirus/2019-ncov/cases-updates/burd...
- Ekaros 5y agoOne could even argue that many of the deaths lessened the demand for things like geriatric care. Thus it could theoretically even increase labour pool.