If the politicians and corporations wanted to protect American IT workers it would. They don't.
Long before wages go up high enough to make you happy, they'll say they need more immigrants. In fact right now we have very low unemployment and companies say they can't find enough workers.
Understanding America’s Labor Shortage: The Most Impacted Industries
The transportation, health care and social assistance, and accommodation and food sectors have had the highest numbers of job openings.
And the economy is fine btw. If you aren't making enough to keep up with inflation, go find another job
In 2021, more than
47 million workers quit their jobs, many of whom were in search of an improved work-life balance and flexibility, increased compensation, and a strong company culture.
But a closer look at what has happened to the labor force can be better described as ‘The Great Reshuffle
’ because hiring rates have outpaced quit rates since November of 2020. So, many workers are quitting their jobs—but many are getting re-hired elsewhere.
Food service and hospitality struggle to retain workers
To further understand shifts in the labor force, it is interesting to look at labor force participation across different industries. Some have a shortage of labor, while others have a surplus of workers.
Related
For example, durable goods manufacturing, wholesale and retail trade, and education and health services have a labor shortage—these industries have more unfilled job openings than unemployed workers with experience in their respective industry. Even if every unemployed person with experience in the durable goods manufacturing industry were employed, the industry would only fill 65% of the vacant jobs.
Conversely, in the transportation, construction, and mining industries, there is a labor surplus. There are more unemployed workers with experience in their respective industry than there are open jobs.
The manufacturing industry faced a major setback after
losing roughly 1.4 million jobs at the onset of the pandemic. Since then, the industry has struggled to hire entry level and skilled workers alike.
Some industries have been less impacted by labor shortages but are grappling with how to deal with the rise of remote work. For example, the rise of remote work might explain why there has been less “reshuffling” in business and professional services.
Gallop
found that 91% of U.S. workers hoped they could continue working some of their hours from home, and three in 10 workers signaled they would seek new employment if they were recalled to the office.
The business and professional services industry has had lower unemployment rates and has maintained above average hiring rates. More than 1.2 million people were hired into the industry every month between July 2021 and November 2021.
Two years ago, finance, management, professional services, and IT/telecommunication jobs were expected to have the
highest potential for remote work. That has proven to be true as
more than half of traditionally white-collar workers were still working from home part at least part time in spring of 2021.
American businesses are creating hundreds of thousands of jobs each month, yet a significant number of positions still remain unfilled.
www.uschamber.com