there is a current labor force shortfall of roughly 3.5 million people, reflecting lower population growth as well as lower labor force participation that forecasters had expected to move back up fairly quickly after the pandemic faded.
Powell stressed more retirements than expected accounted for about 2 million of the 3.5 million labor force shortfall, as older workers worried about their health, saw their overall wealth rise alongside housing prices and simply decided to opt out. He also noted the labor pool of younger workers is smaller than previous generations, a generational phenomenonalike alongside the mathematical certainty that there will simply be fewer workers.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Communities Foundation of Texas CEO Dave Scullin will retire in 2023 - Dallas Business JournalDave Scullin will continue at CFT through March 3 to facilitate the transition, while the board will start a national search for a new president and CEO.
Source: DallasBizNews - 🏆 525. / 51 Read more »
Truist CEO Bill Rogers talks economy, competition during Dallas visit - Dallas Business JournalTruist, formed in 2019 by the merger of BB&T and SunTrust, is the 18th largest bank in DFW with $3.7 billion in local deposits.
Source: DallasBizNews - 🏆 525. / 51 Read more »
5 Business Growth Hacking Tips to Adopt in 2023 | HackerNoon5 Business Growth Hacking Tips to Adopt in 2023 - finance startups
Source: hackernoon - 🏆 532. / 51 Read more »
Why DFW real estate investors shouldn't sleep on 1031s, Inflation Reduction Act - Dallas Business Journal“The market has been pretty hot – and you’re starting to see a cool down now because rates have gone up – but most of these owners are probably sitting on a significant gain when they sell, unless of course, they enter into a 1031.”
Source: DallasBizNews - 🏆 525. / 51 Read more »
Why Gen Z will be a challenge for your business - Jacksonville Business JournalAs with any new generation that enters the workforce, managers have been flummoxed by Gen Z. Experts say many businesses have a serious Gen Z problem they'll have to address to be successful, but it has nothing to do with the generation's vocal opinions, its willingness to change jobs or its work ethic.
Source: JaxBizJournal - 🏆 599. / 51 Read more »