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No Labor Shortage: 16.4M Americans Remain Jobless But Want a Full-Time Job
mystery-ak:
No Labor Shortage: 16.4M Americans Remain Jobless But Want a Full-Time Job
John Binder 7 May 2021
Despite efforts by President Joe Biden’s administration to pack the United States workforce with more foreign labor, there remain about 16.4 million Americans who are jobless but want a full-time job and millions more who are underemployed.
In April, 9.8 million Americans were unemployed. About 12.3 percent of those unemployed were teenagers who are most likely to take minimum wage, entry-level work. In addition, about 9.7 percent of those unemployed are black Americans, while 7.9 percent are Hispanics, 5.7 percent are Asian Americans, and 5.3 percent are white Americans.
Similarly, 6.6 million Americans were not in the labor force, all of whom want a full-time job. These Americans include 1.9 million who are classified as “marginally attached to the labor force” because they had looked for a job in the last 12 months but had not looked in the last four weeks.
About 565,000 Americans who are out of the labor force are considered “discouraged workers” because they do not believe that there are jobs available for them.
In addition to those millions of jobless Americans, about 5.2 million Americans remain underemployed. These Americans are working part-time jobs but want full-time employment with good wages and competitive benefits.
The nation’s actual labor shortage is being spurred by ongoing increased unemployment benefits, not a shortage of available Americans who can fill jobs, according to Breitbart News Economics Editor John Carney:
--- Quote --- That’s because many business owners believe that enhanced unemployment benefits, which pay an extra $300 per week, are creating a labor shortage. But that labor shortage is likely to be temporary because the American Rescue Act, passed in March, extended the enhanced benefits only through September.
That means that it is likely that in just a few months, there will be millions of more Americans willing to work for less than they will work for today.
It’s not people do not want to work or do not understand that in the long-run they are better off employed than on the dole. It’s just that right now, the enhanced unemployment benefits pay so much that workers rationally choose to take the higher income for a few more months, quite reasonably expecting they will be able to find work when the enhancement expires.
--- End quote ---
more
https://www.breitbart.com/politics/2021/05/07/no-labor-shortage-16-4m-americans-remain-jobless-but-want-a-full-time-job/
Hoodat:
There are millions of Americans receiving big checks from the government every week. Those checks will end the minute that they decide to take on a full time job.
IsailedawayfromFR:
--- Quote from: Hoodat on May 08, 2021, 12:12:46 am ---There are millions of Americans receiving big checks from the government every week. Those checks will end the minute that they decide to take on a full time job.
--- End quote ---
Yep, Biden is the big Disincentizer Bunny.
Smokin Joe:
--- Quote from: Hoodat on May 08, 2021, 12:12:46 am ---There are millions of Americans receiving big checks from the government every week. Those checks will end the minute that they decide to take on a full time job.
--- End quote ---
Yep. After COVID crashed the oil patch, I could have made well over 10K more last year without any expenses, if I had just suckled the Great Teat.
But all that bureaucracy is a PITA, so I got a job instead. I don't regret it.
I'll be back to the patch in a week....
IsailedawayfromFR:
--- Quote from: Smokin Joe on May 10, 2021, 06:57:35 am ---I'll be back to the patch in a week....
--- End quote ---
Great to hear you got a gig.
Have been counting stacked rig numbers for awhile and they appear here to be reducing in numbers.
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