Why is there so much job vacancy rate now?

troll_69 wrote:

2600 bro wrote:

But the states that cut handouts months ago haven't seen any improvement over states that didn't? Doesn't that kinda ruin your argument?

Was literally the first statement of my post he was replying to. Political tribalism is almost as harmful an epidemic covid has been to the US.

"beating" the other team is more important than solving problems now.

Labor participation rate has declined. More people, like retired people, have left the job market than young people joining the work force.

Why Did Labor Force Participation Rate Decline When the Economy Was Good?

The last decade was free of recessions and from the opening bell in January 2010 to the closing bell in December 2019, the Dow Jones Industrial Average and S&P 500 soared 173.60% and 189.35%, respectively. The Gross Domestic Product increased from $14.992 trillion to $21.433 trillion.

Yet, during that same period, the labor force participation rate actually declined.

The solution to this labor market puzzle: rise in the percentage of the population ages 65 and over.

So, how could it drop when the economy was booming and labor force participation rates among the working-age population grew in every age category?

The solution to this labor market puzzle: rise in the percentage of the population ages 65 and over.

The oldest baby boomers were 64 in 2010 and 73 in 2019. As they aged, a large segment of the population shifted into 65 and older age groups.

Because older Americans are less likely than younger ones to be in the labor force, this demographic shift reduced the overall labor force participation rate.

Labor force participation includes working-age adults who are either working or looking for work.

Reminds me of an old saying: You know what the difference between a job and a wife is? After 5 years, the job still sucks.

Yes. I know many older people that just pulled the ripcord when covid hit. They're out. Add in all those who worked but *really* didn't *need* to, in the impacted sectors. They've said f-it. Add in lots of teens and students who didn't enter and/or left the low-wage workforce, add in parents who elected to have the low-income parent stay at home with kids and have not re-entered.

Add in people who DIED from Covid-19. It was the leading cause of death for police officers last year, I read.

Its no surprise we are where we are.

90s guy wrote:

Why is there so much job vacancy rate now?

Cause people no know how to talk so good.

Some people were out of a job when the virus hit 19 months ago. Some moved back in with their parents or friends and pooled their resources to stay afloat. The stimulus money helped them get by. Some took online courses or enrolled in certificate programs. All types of career enhancement training that didn't break the bank like it would if they went to a four year university. When the economy started to improve and businesses began to open up they were able to pick and choose where to go to work. Hence their old entry level jobs remain vacant due to their new skills.

As an employer I can tell you the labor market was way better during the last administration or pre-covid if you like. So whatever happened since then has had a major effect on the labor market. What has happened?

From my experience, the major factor was the no-eviction laws + the govt stipend to disincentive work. If people don't have to pay rent, and are getting any kind of covid-unemployment money they won't work. Don't want to lose that unemployment check, right? And if you can't be evicted for not paying rent then I would guess that at least 10% of the pop would just stay home.

I knew of employees who were seeking out the drive thru covid testing weekly with the hope that they would test positive and be able to get unemployment plus the govt bonus check, no lie. I knew of several people who were working who quit paying rent bc the landlord couldn't evict them.

Of the ones that wanted to work Amazon hired 500,000 workers last year, food delivery services hired a bunch more. Hopefully as the eviction policies+stipends are ending people will finally have to get back to work.