Business owners everywhere are facing the same issues; there aren’t enough people on staff to do the work they need. They are then forced to turn away business they need because they just don’t have the manpower to do it.
Help wanted signs are everywhere, but they don’t seem to be doing a lot to help.
The labor force participation rate was 61.6% in Sept., and before the global shut down was 63.3% in Feb. 2020.
The percentage difference represents 4.3 million Americans ages 16 and up who can work, but aren’t.
A lot of the industries suffering are service industries, whether it’s auto repair or hospitality. Businesses with multiple locations are closing some to manage the employee shortage.
One reason business owners feel this is an issue is that people were able to make more with unemployment than they were working a job.
Those who are working are working hard in order to help make up for the lack of help they have. They’re also noticing benefits being added as well as higher wages to help make the job more enticing.
The workforce is slowly being built up as added unemployment benefits are ended and more people seek out seasonal work before the holidays.