Donald Trump has repeatedly remarked on his superior intelligence.
While other Presidents struggled to find time to process all the written material they needed to review, Donald Trump seems to have abundant time to watch television and send out tweets. If he took even a few minutes to educate himself on the economic conditions of the country, he’d realize that there is an “epidemic”. It’s called a “labor shortage” and it is already having devastating repercussions on the economy.
A report Thursday from ADP and Moody’s Analytics cast an even brighter light on what is becoming one of the most important economic stories of 2018: the difficulty employers are having in finding qualified employees to fill a record 6.7 million job openings.
At first glance the cost of rising competition for jobs might be thought to be a good thing. Perhaps wages for the American worker would increase. However rising labor costs will inevitably cause an increase in the price of goods and services.
The U.S. labor shortage
is reaching a critical point.
- Private payrolls grew less than expected in June, likely due not just to a slowdown in hiring but also a decline in the labor pool.
- For the first time, there are more job openings than there are eligible workers to fill them.
- Economists expect wage pressures to continue building as part of increasing inflation.
Instead of addressing this critical labor shortage, Trump now threatens to push the government into shutdown once again if we don’t fund his border wall and change the nation’s immigration laws.