Read on Twitter
morning chart.
attempt to figure out how I totally missed surge back to work after stay-at-home orders ended last year AND totally missed slower return to work now even with vaccinations.
easier for temp laid off to go back to work than other unemployed or left labor market.
attempt to figure out how I totally missed surge back to work after stay-at-home orders ended last year AND totally missed slower return to work now even with vaccinations.
easier for temp laid off to go back to work than other unemployed or left labor market.
inspired by this line in @byHeatherLong's piece:
"Economists describe this phenomenon as reallocation friction, the idea that the types of jobs in the economy are changing and workers are taking awhile to figure out what new jobs they want." https://www.washingtonpost.com/business/2021/05/07/jobs-report-labor-shortage-analysis/?utm_campaign=wp_todays_headlines&utm_medium=email&utm_source=newsletter&wpisrc=nl_headlines&carta-url=https%3A%2F%2Fs2.washingtonpost.com%2Fcar-ln-tr%2F323d3bb%2F6096612a9d2fdae30247678d%2F596a4fddade4e20ee370a82c%2F14%2F61%2F6096612a9d2fdae30247678d
"Economists describe this phenomenon as reallocation friction, the idea that the types of jobs in the economy are changing and workers are taking awhile to figure out what new jobs they want." https://www.washingtonpost.com/business/2021/05/07/jobs-report-labor-shortage-analysis/?utm_campaign=wp_todays_headlines&utm_medium=email&utm_source=newsletter&wpisrc=nl_headlines&carta-url=https%3A%2F%2Fs2.washingtonpost.com%2Fcar-ln-tr%2F323d3bb%2F6096612a9d2fdae30247678d%2F596a4fddade4e20ee370a82c%2F14%2F61%2F6096612a9d2fdae30247678d
PS I don't think 'reassessment' is as important as costs of severing of employer-employee relationships: takes time and effort to find a new employer even for same kind of job. big rethinks likely at play too, especially for those who left labor market. that takes even longer.
PPS for those convinced that extra unemployment benefits are wrecking our economy:
1) people who quit jobs and left the labor force DO NOT GET BENEFITS.
2) NOT EVERYONE eligible for benefits get them. unemployment insurance system is broken. FIX IT. https://www.bloomberg.com/opinion/articles/2021-01-25/u-s-unemployment-system-is-broken-but-fixable?sref=YAR8Qcu4
1) people who quit jobs and left the labor force DO NOT GET BENEFITS.
2) NOT EVERYONE eligible for benefits get them. unemployment insurance system is broken. FIX IT. https://www.bloomberg.com/opinion/articles/2021-01-25/u-s-unemployment-system-is-broken-but-fixable?sref=YAR8Qcu4
pass Jobs and Families plans to push us toward better than pre-Covid. we've never achieved full employment, a good job for everyone who wants to work. living wage, predictable schedule, career path, etc. do it!! https://twitter.com/Claudia_Sahm/status/1391372016255647746?s=20
