Economy, Labor Shortage

Affordable housing can help crush the US labor shortage

Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.

10/23/2021 1:20:00 PM

The housing crisis and the labor shortage are linked: People can't take jobs if there aren't affordable homes nearby

Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.

It's a fairly simple concept: Though the Bay Area boasts abundant jobs, housing for the people to fill those jobs isn't affordable. In Columbus, however, affordable housing can be found within a reasonable distance from the city's largest job hubs.

Biden offers words of encouragement to young girl with stutter A tip led Detroit police to Michigan school shooting suspect's parents, chief says Chief: Michigan suspect's parents found hiding in building | AP News

San Francisco's problem reveals the link between the housing crisis and the labor shortage. Columbus's planning hints at a solution for both. Across the US, businesses are struggling to fill job openings. The trend, now known as the"labor shortage," has changed the game for employers and employees. Americans are flexing unprecedented bargaining power and demanding higher pay to return to work. Those with jobs are quitting at record pace for new opportunities, hoping to capitalize on the overwhelming demand for workers.

It's working. Average wages have risenat the fastest pace in decadesas firms scramble to rehire. Yet the shortage shows no signs of calming. More than 10 million job openings remained unfilled at the end of August, signaling the return to full employment will take some time.

At the same time, the US housing market is still white-hot. A shortage of available homes has led to frenetic bidding wars andthe fastest price growth in 45 years. More houses are on the market than during pandemic lows, but it's still well below what experts estimate is needed to meet demand.

The shortages are two sides of the same coin. Cities with the most job openings don't have the affordable housing needed by many workers. And areas with cheaper housing don't have the promising labor markets to make them attractive.Fixing the housing market could be the best bet for fighting the labor shortage.

Housing and employment are fundamental to the American DreamThe gap between affordable housing and job access already has a name: spatial mismatch. The trend has been studied for years, but the pandemic's effects on the labor market brought the term back into the limelight.

It also describes where San Francisco can learn from Columbus. A 2019studyby the Urban Institute found that, while the San Francisco Bay Area had an overabundance of job openings, there weren't enough job seekers within a reasonable distance to fill them. It wasn't until one looked far into the Bay Area's surrounding neighborhoods that openings matched available workers. But that had more to do with fewer postings than more applicants.

How to Watch Variety’s Hitmakers Event Featuring BTS, Lil Nas X, Olivia Rodrigo and More Thousands flee as Indonesia's Mount Semeru volcano erupts Indonesia's Semeru volcano erupts, spews huge ash cloud | AP News

The landscape is different in Columbus. While the city had more open job than people seeking work, those jobless people tended to at least live within a reasonable distance to work hubs. By creating affordable housing and placing it near transit, Columbus was able to connect low-income residents with employment opportunities.

Similar effects can help close spacial mismatches throughout the US, Christina Stacy, a principal research associate at the Urban Institute, told Insider."People need safe, stable, affordable housing in high-opportunity neighborhoods in order to have any upward economic mobility. Certainly having affordable housing near jobs will help us get there," she said.

Read more: Business Insider »

Age old concept of making available the houses in Employers' owned colonies could not continue without recourse to lawful procedure in court of law. This deterred many & they preferred to offer HRA in CTC. Policy needs to be re-framed to make win win position for both. 住房危机和劳动力短缺是相关联的:如果附近没有经济适用房,人们就无法找到工作

US military says it killed al-Qaida leader in drone strikeWASHINGTON (AP) — The U.S. military says it killed a senior al-Qaida leader in an airstrike Friday in northwest Syria. Army Maj. John Rigsbee, a spokesman for U.S. Central Command, said in a statement that Abdul Hamid al-Matar was killed by a drone strike. The US illegally bombs Syria Well what do you want us to say? ok well here it is ' good keep up the good work' justsaying He was 11 and playing with his little brothers.

Taiwan vows to 'defend itself' amid U.S. reversal, here's how China compares'The complete reunification of the motherland must be fulfilled, and it will definitely be fulfilled,' Ma Xiaoguang of China's Taiwan Affairs Office said. Didn't some German guy say the same thing back in the 1930s? They should have friendzoned them. 'We're flattered you like us but we just don't feel the same it ok if we're just friends?' Give Taiwan one Nuclear weapon China would not mess with them.

Climate change poses threat to global stability: US intelligenceThe assessment says developing countries are most at risk and the least adaptable to the physical effects of climate change, which could pave the way for 'instability and possibly internal conflict.'

Editorial: Nominate a Californian: Who most deserves a statue in the U.S. Capitol?California is a state full of great thinkers, creators and contributors to the story of the state and the history of the world. opinion John Steinbeck. Pat Brown. opinion Must this person have been born in CA? Because John Muir wasn't born here but he did die here & he was instrumental in establishing our national parks. opinion Rep. Adam Schiff

U.S. Supreme Court takes up challenge to Texas abortion banThe U.S. Supreme Court on Friday agreed to hear on Nov. 1 a challenge to a Texas law that imposes a near-total ban on the procedure and lets private citizens enforce it - a case that could dramatically curtail abortion access in the United States if the justices endorse the measure's unique design. another propaganda line out of the leftist narrative. If these strong and independent women controlled their own bodies this wouldn't be an issue. That republican club of the six justices needs or want to do a redo, they did not envision the push back from the nation, the days are gone when you think you can take a woman’s right away and they sit back and say , more can I have more, please!!

US offers $10 million for Colombian businessman linked to Venezuela bribery schemeThe U.S. State Department on Friday announced a reward of up to $10 million for information leading to the arrest or conviction of Colombian businessman Alvaro Pulido over money laundering charges in connection with an alleged Venezuela bribery scheme. 하나님의 신성한성품은 하나님의 권능입니다 WordAboutRapture WordAboutRapture 당신은 준비되었습니까 RECKONING it’s Coming,there’s not going to be to many places for these supporters of a NARCO DICTATORSHIP, VENEZUELA FREEDOM it’s at HANDS 🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪🇻🇪