, published on May 7th, showed that America had added just 266,000 jobs, well below the 1m or so that many economists had expected.
The shortages are in fact a sign of returning economic vitality. Some delays were apparent in early 2020, too. Then the spread of covid-19 was largely limited to China; the closure of factories there to stop its spread meant that American carmakers struggled to source key inputs. But whereas those shortages were linked to the global economy shutting down today’s are linked to its opening up.
But surges in demand cannot immediately be fulfilled. Take imported supplies, for instance. Even at the best of times extra demand for international deliveries takes a while to sate; a ship can take a few weeks to sail from China to America. The added complication in 2021 is that firms must also contend with shortages of containers in some ports. Some were stranded in the wrong place during the first wave of lockdowns.
'In America, people are used to getting what they want when they want it. No longer' So much for the 'just in time' supply chain where bean counters banned keeping essential 'inventory' Works great for the bottom line, until it doesn't
Tanks to Jo and the Ho
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