The U.S. economy is still growing at a solid pace, a Federal Reserve report said Wednesday, but labor shortages and supply-chain bottlenecks are restraining growth and triggering higher inflation.
“Growth in the regional economy slowed to a modest pace in recent weeks, as supply disruptions and labor shortages have impeded economic activity,” the New York Federal Reserve said.Read: ‘My business faces a dire shortage of workers,’ owner says “Fear and uncertainty of the delta variant continued to constrain growth, but contacts were most worried by ongoing labor shortages and supply chain disruptions,” the Philadelphia Federal Reserve said.
The labor shortages and supply chain woes began to emerge during the spring after the U.S. economy fully reopened and there was an explosion in pentup demand once Americans were able to get out and about again.
Try paying people a living wage and not stealing from them.
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