No Shortage of Workers

by Laura Ehrenberg-Chesler on November 5, 2018

in Economic Indicators,Employment

Turns out, there are more workers coming in to the labor force, so we are not running out of workers.
Today, from Ed Yardeni:

“No shortage of workers. Another widespread and erroneous notion is that we are running out of workers because the unemployment rate is so low. The labor force jumped 711,000 during October, and 2.04 million ytd. It may be harder to fill jobs right away, yet 250,000 positions were filled on balance during October and 2.13 million ytd. That’s based on the payroll employment survey. The household survey showed a gain of 600,000 during October, and 2.54 million ytd.

By the way, payroll employment in the trucking industry rose during October to a record high with a m/m gain of 2,400 and a y/y gain of 36,600. So even the industry that purportedly has the worst trouble finding labor is finding truck drivers after all.”

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