{"id":267476,"date":"2021-06-05T18:06:00","date_gmt":"2021-06-05T15:06:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/record-job-openings-and-higher-pay-still-not-enough-to-get-americans-back-to-work\/"},"modified":"2021-06-05T18:06:00","modified_gmt":"2021-06-05T15:06:00","slug":"record-job-openings-and-higher-pay-still-not-enough-to-get-americans-back-to-work","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/record-job-openings-and-higher-pay-still-not-enough-to-get-americans-back-to-work\/","title":{"rendered":"#\n  Record job openings and higher pay still not enough to get Americans back to work"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a415123ed8b8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a415123ed8b8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/record-job-openings-and-higher-pay-still-not-enough-to-get-americans-back-to-work\/#Jeffry_Bartash\" >Jeffry Bartash<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Record job openings and higher pay still not enough to get Americans back to work<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000294113\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       There\u2019s something funny going on in the U.S. labor market. Businesses are desperate to hire and they\u2019re raising wages to attract workers, but they still can\u2019t find enough people to fill a record  number of job openings.<\/p>\n<p> The U.S. added 559,000 new jobs in May, but that still leaves the economy 7.6 million jobs short of pre-pandemic levels. <\/p>\n<div class=\"paywall\">\n       <strong>Read: <\/strong>\u2018Better, but still not booming\u2019- economists react to May jobs report<\/p>\n<p>At the current rate of hiring, it would take 14 months to recoup all the jobs lost, never mind a few million extra jobs that would have been created had the pandemic never h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened at all.<\/p>\n<p>Making matters worse, people aren\u2019t rushing to rejoin the labor force.<\/p>\n<p>Fewer than 1 million people have entered the labor force since January despite a rapid U.S. economic recovery.<\/p>\n<p>\u201cAt a time when the economy is emerging from the pandemic and the labor force is still 3.5 million below its pre-pandemic level<strong>, <\/strong>it is nothing short of a disaster,\u201d argued chief U.S. economist Paul Ashworth of Capital Economics.\u00a0  <\/p>\n<p>Economists put forth a variety of explanations as to why so many people still aren\u2019t working: <\/p>\n<ul class=\"articleList\">\n<li>\n      Many baby boomers retired instead of waiting out the pandemic. Record stock market gains made it easier for them to cash out, too. A recent U.S. Census survey suggests 1.7 million people between 55 and 65 retired early.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"articleList\">\n<li>\n      Limited options for the care of children and elderly family members. A number of women in the workplace suggest these issues haven\u2019t totally gone away even though summer is here and most of the economy has fully reopened.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"articleList\">\n<li>\n      Fear of the coronavirus. Some 2.5 million people said they were prevented from looking for a job in May because of the pandemic, the Labor Department said.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"articleList\">\n<li>\n      Generous unemployment benefits. Many businesses contend an extra $300 in federal aid to jobless workers each week discourages them from taking a job. Some earn more from unemployment benefits than they do from working.<\/p>\n<\/li>\n<\/ul>\n<p><strong>Read:<\/strong>\u2018We are struggling to find employees to help us keep up,\u2019 manufacturers say<\/p>\n<p>\u201cOur research suggests that generous unemployment benefit supplements are the main factor holding employment growth back,\u201d said economist Katherine Judge of CIBC World Markets.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p><strong>Read:<\/strong> If it\u2019s not enhanced unemployment benefits, why are people turning down jobs?<\/p>\n<p>The debate over unemployment benefits has grown particularly intense after 25 states announced they would stop offering the federal stipend by the end of June. <\/p>\n<p>Conservatives say the extra benefits are shackling the recovery while liberals argue that companies simply need to pay more money to fill open jobs.<\/p>\n<p><strong>Read:<\/strong> U.S. unemployment claims fall to pandemic low of 385,00 as layoffs wane<\/p>\n<p>Yet that\u2019s what many businesses are already doing. Average hourly pay rose sharply in May for the second month in a row, with increases particularly strong in lower-wage jobs at hotels, restaurants and entertainment venues.<\/p>\n<p>\u201cLabor shortages in parts of the economy that are opening up are lifting wages in sectors such as leisure and hospitality and retail trade,\u201d said William Foster, vice president at Moody\u2019s Investors Service.<\/p>\n<p>Whatever the case, the end of extra federal benefits in half the country is going to be watched closely. <\/p>\n<p>By early July, economists at Jefferies LLC estimate, \u201c3.9 million people will become very motivated to find work.\u201d The firm expects hiring to surge in July as a result.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jeffry Bartash\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jeffry_Bartash\"><\/span>Jeffry Bartash<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-747C-E121C55C7209%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Record job openings and higher pay still not enough to get Americans back to work &#8221; There\u2019s something funny going on in the U.S. labor market. Businesses are desperate to hire and they\u2019re raising wages to attract workers, but they still can\u2019t find enough people to fill a record number of job openings. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":267477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-267476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/267476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=267476"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/267476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/267477"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=267476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=267476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=267476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}