The Coming Labor Shortage Is Not Good News
Sure, workers may have higher wages. But there's more to it than that.
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Show Notes
Does an aging workforce mean greater worker power?
One of the takeaways from pro-worker advocates during the pandemic financial crisis was that employees saw fantastic gain. As demand for workers skyrocketed, employees got to be choosy. What bosses called “The Great Resignation” was actually workers having the power to demand better wages and working conditions, as well as the willingness to quit jobs that wouldn’t offer those things.
But economist Adam Ozimek warns that people may be taking the wrong lesson about tight labor markets, and that the coming labor shortage isn’t cause for celebration—but concern.
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