Whether the US workforce overall "wants" to do manufacturing is indeed a question.
However, the seeming labor imbalance extends beyond manufacturing. There was a huge exodus of workers during the 2020 recession, and yet net non-farm hires and separations do not appear to have replaced a large portion of them. This despite persistent under…
Whether the US workforce overall "wants" to do manufacturing is indeed a question.
However, the seeming labor imbalance extends beyond manufacturing. There was a huge exodus of workers during the 2020 recession, and yet net non-farm hires and separations do not appear to have replaced a large portion of them. This despite persistent underemployment and some 5.7 million workers technically not in the labor force but who at least claim to want a job.
Exactly why this is a question that definitely warrants scrutiny. While the failure of pay rises to keep pace with inflation is a likely factor, that doesn't account for people seemingly willingly choosing to forego the higher pay rates generally associated with manufacturing jobs.
I am tempted to see a parallel between the holes in US labor markets and the anecdotal references to the Chinese phenomenon of "laying down", where young people are more or less dropping out of Chinese society (and the labor force in particular).
For whatever reason, a great many individuals appear to be making a choice for something other than work.
As you say, it is going to be a weird recession. Hell, it already is!
Whether the US workforce overall "wants" to do manufacturing is indeed a question.
However, the seeming labor imbalance extends beyond manufacturing. There was a huge exodus of workers during the 2020 recession, and yet net non-farm hires and separations do not appear to have replaced a large portion of them. This despite persistent underemployment and some 5.7 million workers technically not in the labor force but who at least claim to want a job.
Exactly why this is a question that definitely warrants scrutiny. While the failure of pay rises to keep pace with inflation is a likely factor, that doesn't account for people seemingly willingly choosing to forego the higher pay rates generally associated with manufacturing jobs.
I am tempted to see a parallel between the holes in US labor markets and the anecdotal references to the Chinese phenomenon of "laying down", where young people are more or less dropping out of Chinese society (and the labor force in particular).
For whatever reason, a great many individuals appear to be making a choice for something other than work.
As you say, it is going to be a weird recession. Hell, it already is!