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Of course there can be a labor shortage. If there are 10 open positions but only 8 qualified people, then there's a shortage. It is impossible to fill all 10 po
by lexapro 5y ago
Of course there can be a labor shortage. If there are 10 open positions but only 8 qualified people, then there's a shortage. It is impossible to fill all 10 positions, even with all the money in the world.
- iso1631 5y agoSo employ someone and train them so they are qualified
- joshlemer 5y agoI think this comment misunderstands the whole supply/demand curve idea. At a low enough price, there would be an arbitrarily high number of "open positions". The statement "there are 10 open positions but only 8 qualified people" therefor is trivially true and meaningless. If I could pay people $1/hour then I might hire 5 of them full time personal assistants. But people wouldn't work for $1/hour, so in that case do we say that there are 5 open positions but 0 candidates?
- nitwit005 5y agoThat just means the cost to hire includes the cost to train people. And realistically, training is always a cost, even if people don't acknowledge it. It takes time for experienced people to get up to speed at a new workplace.
- cosmolev 5y agoIf I am the only qualified person and there are 2 jobs that are paying all the money in the world I will work 16 hours a day on both and earn 2x all the money in the world.