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No single reason behind current labor shortage, economics expert says
Study finds receiving benefits intensify job searches
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SAN ANTONIO – Generous unemployment and COVID-19 relief benefits are not why many people aren’t going back to work yet, according to a study by the Federal Reserve Bank of Chicago.
On Monday, President Joe Biden said, “We’re going to make it clear that anyone collecting unemployment, who is offered a suitable job, must take the job or lose their unemployment benefits. There are a few COVID-19 related exceptions, so that people aren’t forced to choose between their basic safety and a paycheck, but otherwise that’s the law.
The day before last Fridayâs disappointing jobs report, South Carolina Gov. Henry McMaster followed Montana Gov. Greg Gianforte in calling on their respective states to end their participation in covid-related unemployment programs.
In both cases, the two Republicans cited worker shortages in their states to explain their decisions. Contrary to the way things may appear, the United States isnât suffering a jobs shortage so much as it is suffering a shortage of people willing to work.
The Bureau of Labor Statistics report, which comes out the first Friday of every month, apparently caught financial wizards by surprise with its unexpectedly low numbers. Employers created only about one-fourth of the 1 million jobs economists had been expecting. Reacting to the numbers, many commentators were careful not to say what was obvious to McMaster and Gianforte: Giving away money and other goods has a predictable and undesirable effect on human incentive.
China s population to hit turning point in 2026-2030 - think tank
FILE PHOTO: People walk at a subway station, following the outbreak of the coronavirus disease (COVID-19), in Shanghai, China May 11, 2021. REUTERS/Aly Song reuters tickers
This content was published on May 12, 2021 - 09:02
May 12, 2021 - 09:02
BEIJING (Reuters) - China is expected to reach a turning point between 2026 and 2030 with its population plateauing or even shrinking as fewer babies mean a slow down and then a reversal in the momentum of growth, a state think tank said on Wednesday.
The world s most populous country saw 5.38% more people in the last decade, to 1.41 billion, according to the results of a nationwide census released on Tuesday.