The idea of a “labor shortage” is just idiotic. The demand for goods and services is a function of the size of the population, and guess what else is? The size of the labor pool. Really just reinforces proof of how much economic illiteracy is out there.
I mean, that assumes all people are equally qualified for all positions doesn’t it? If the market demands 500 plumbers but there’s only 400 licensed plumbers, I’d call that a labor shortage. Now, hopefully this leads to pay increases for that trade which in turn increases the number of people pursuing it, but the problem does exist for some period of time. I feel like pretending it doesn’t belittles the pro worker argument
The idea of a “labor shortage” is just idiotic. The demand for goods and services is a function of the size of the population, and guess what else is? The size of the labor pool. Really just reinforces proof of how much economic illiteracy is out there.
No, no, it must be that young people these days are lazy, not that I lack a basic understanding of economics.
I mean, that assumes all people are equally qualified for all positions doesn’t it? If the market demands 500 plumbers but there’s only 400 licensed plumbers, I’d call that a labor shortage. Now, hopefully this leads to pay increases for that trade which in turn increases the number of people pursuing it, but the problem does exist for some period of time. I feel like pretending it doesn’t belittles the pro worker argument