The shortage of manpower, which has made it difficult for Business find the workers they need, could persist due to enduring demographic trends and pandemic-related challenges, said the president of the Federal Reserve (Fed, US central bank) de Richmond, Thomas Barkin, this Thursday.
“I think this is a long-running phenomenon and a lot of it was predicted years ago with the baby boomers retiring, and all the rest of that, and the immigration slowdown,” Barkin said during a virtual event hosted by the Bankers Association. of Virginia and the Virginia Chamber of Commerce.
He said officials may need to accept that labor force participation is “stagnant” because of demographic issues and because some people have reevaluated their lives and jobs.
Source From: Moneytimes
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