The job market may currently have a record 9.2 million job vacancies, but little change in the unemployment rate may indicate that companies are learning how to do more with less money, and workers are rethinking their future.
according to Bureau of Labor Statistics, The number of vacancies almost perfectly matches that of the 9.3 million Americans who are still unemployed. Economic data It shows that in the past 16 months, although workers’ working hours have been reduced by 4.3%, output in the first quarter of 2021 has almost returned to pre-pandemic levels—a decrease of 0.5% from the end of 2019.
Between workers changing locations or work preferences during the pandemic, and between unemployment benefits and relief checks, workers have become increasingly picky about their work. Therefore, the company is looking for alternatives when completing the work, which means that shortages still exist, Wall Street Journal report.
Brad Hershbein, senior economist at the WE Upjohn Employment Research Institute, said: “When demand falls, it is a natural time for restructuring or investment, because there is no loss of customers or sales when repairing and closing the business.”
Many Americans also Reconsider their profession In general, as jobs in retail, hotels, car dealers, and meat packaging facilities decrease in the economy, retraining may be required. A report Recommendations on the nature of work after the COVID-19 crisis.
Susan Lund, director of the McKinsey Global Institute, said that the United States needs to strengthen short-term training and certification programs for a large number of workers who want to change careers.
“We believe that in a very realistic situation, many large jobs and low-wage jobs in the retail and food service industries will disappear in the next few years,” Lund said. Washington post.
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