Zero Hedge: Today’s payrolls print was the second biggest miss in history (second only to last March) as despite 7 million job openings, only a net 266k additional Americans got jobs.
” A sluggard’s appetite is never filled, but the desires of the diligent are fully satisfied.” Proverbs 13:4
According to Bloomberg, economists are suddenly ‘baffled’ by perhaps the most obvious outcome of a government paying people not to work during the pandemic; there’s a giant shortage of people willing to return to the workforce.
The key quote from NFIB Chief Economist Bill Dunkelberg was “Main Street is doing better as state and local restrictions are eased, but finding qualified labour is a critical issue for small businesses nationwide.” And the explicit admission that BIden’s “trillions” in stimulus are behind this predicament:
“Small business owners are competing with the pandemic and increased unemployment benefits that are keeping some workers out of the labor force.”