'They’ll be entering a job market that’s eager to have them': Will record-high inflation encourage more people to go back to work?

Labor costs are driving up inflation. But will inflation also drive more people back to the workforce?

The unemployment rate held steady last month at 3.6%, remaining near a 54-year low, while hourly pay rose in April, putting pressure on the Federal Reserve’s goal to temper inflation and steer the U.S. economy away from a potential recession. Instead, people are moving “from the toughest jobs to more attractive jobs,” Kashkari said, saying child care and long-haul truck driving are jobs that are more difficult to fill.

“They go to restaurants where half the seating is closed because of staffing issues,” he told MarketWatch. “They see ‘now hiring’ signs everywhere, and the media constantly publishes articles about the record quit rates.”

Wtf you mean like a second job? Or older people being pushed to work who had previously retired?

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tech Industry Warns That More Remote-Work Jobs Are Headed Out of U.S.The industry says the remote-work trend will lead to more offshoring of software developer and other technology jobs unless the U.S. admits more high-skilled immigrants. 🇨🇦💻🍁 The WSJ is increasingly desperate to shit on remote work Perfect!😉
Source: WSJ - 🏆 98. / 63 Read more »