What to do about a labour crunch
Across the rich world vacancies are left unfilled
AS RICH COUNTRIES loosen lockdowns, an economic puzzle is emerging. Businesses are voicing ever-louder concerns about labour shortages, even as millions of people remain out of work. In America a surge of spending is creating job openings, but few people seem willing to fill them. The number of vacancies, at over 8m, has never been so high.
Worker shortages are a growing problem elsewhere, too. British publicans, who opened their doors to indoor drinkers on May 17th, are searching for pint-pullers. In Australia vacancies are 40% above their pre-pandemic level. Europe has been slower to come out of its lockdown, but even there unfilled positions from Switzerland to Germany are higher than before.
This article appeared in the Leaders section of the print edition under the headline "The curious case of the disappearing worker"
From the May 22nd 2021 edition
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