Fed chair Powell on the U.S. labor shortage: COVID, retirements, missing immigrants

This number includes older workers who left the labor force earlier than expected. "These excess retirements might now account for more than 2 million of the ... shortfall," he said.Overall, 1.09 million Americans lost their lives to COVID-19, according toThe role these deaths play in the economy often gets overlooked, possibly because it's so devastating to contemplate.

But when considering the state of the U.S. workplace, it's worth remembering that many Americans lost colleagues, friends and loved ones over the past few years. It's a toll that will take many years to understand

No they just didn't return, ie lower participation rate

That is total BS…. Amazingly ignorant comment as the significant amount of deaths were retired people….

Over 60% of the covid deaths were over the age of 65 in the United States.

If only there were some group of people elsewhere in the world who want to come to the United States to work and make a better life. What could we call them? Immig-something or other...?

I’ve been saying it for months!! 🤭

I don’t know how many times I said this , we have two persistence issues: massive creation of jobs need massive labor to fill it : 1) open work visas , give new work visas , open immigration. 2) investigate why black labor unemployment is high. 1/2

*with*

mrjamesob

cwebbonline You don’t say.

Lmfao... yes all those octogenarian workers

😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅😅😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅😂😂😂😂😂😂😅😅😅😅😂😂😂😂😂😂😂😅😅😅😅😂😂😂😂😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😅😅😂😅😅😂😂😅😅😅😅😂😂😂😂😂 😣😒

It's not just the covid deaths. Long covid is preventing another 4 million from returning to work:

This has been a problem 76 years in the making. It will level off around the year 2030, after nearly all Baby Boomers have finally retired

Hmmm, wasn’t there some kind of experimental medical treatment that was forced on hundreds of millions of working age people? I wonder if that could have anything to do with this. Nah.

Perfect logic for a propagandist

The reality is: Just like the FDA, CDC, FBI, DHS, … you cannot believe anything published by BLS anymore. It’s all manipulated by politicians. Obama EXAGGERATED JOBS in 2012 and 2016. Biden’s BLS exaggerated jobs numbers by 1.1 million to 2.7 million in 2022.

Lol. Or just tell the truth: most eligible don’t want to work. Some have given up looking. That’s most of the reason. How many people that were eligible for work have actually died? Such liars and con artists democRats have become. Sad.

Wow!

Powell added 'And we need to start a recession because it's working Americans who caused all this inflation' He didn't really say it but he essentially is saying it.

So dead people are tabulated in the labor participation rate now?

And retired,some early.

The media are still trying to exploit the 'with Covid' fallacy...

Yeah na. As of June 2022 USA deaths “with” covid from 20-29 was 5,610, 30-39 was 15,225, 40-49 was 35,029 and 50-59 was 82799.

Labor market is tight because people died? Better start a recession. - Jerome Powell

TLDR: Yes a lot of the poor have died but still... the economy ya know? More sacrifice is needed.

🤔

Can Mr. Powell explain why/how employers could possibly lay-off workers during the recession IF there IS a shortage of said 'workers'? Does he know what he's talking about? 😕

How did Republicans do as well as they did in the midterms after they killed off a good chunk of their voter base?

jeff7091 I have been waiting for this to be realized ..

Many died from a forced fake vaxxine.

Say what? 80% of deaths ate afe 60yr and above.

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