Extended unemployment benefits, lack of affordable childcare, fear of contracting the coronavirus and the general reordering of our lives during the pandemic have all contributed to the labor shortage. But the days of a service economy built mostly on low wages are over -- at least for the time being:
Of all the phenomena growing out of the COVID-19 pandemic, the most baffling – and interesting – is the unwillingness of so many of the unemployed to go back to work. I’ve never seen anything like it in my 64 years ...
If nothing else, it is now clear that America’s low-wage bubble has burst. That’s not to say it can’t be reinflated, but for the time being, there is a renewed focus on wages necessitated by the reordering of our lives in the face of a deadly virus that will likely define an entire generation.
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With open jobs and thousands not working, @TerryCowgill theorizes that the low-wage bubble has burst. #opinion #labor #wages #theeconomy https://t.co/iWR31ExzGk
— doughardy (@doughardy_ct) November 22, 2021
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