{"id":16589,"date":"2021-05-25T18:21:35","date_gmt":"2021-05-25T17:21:35","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.fr\/?p=16589"},"modified":"2021-05-25T18:22:55","modified_gmt":"2021-05-25T17:22:55","slug":"united-states-desperately-seeking-workers","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/united-states-desperately-seeking-workers\/","title":{"rendered":"United States desperately seeking workers"},"content":{"rendered":"<h2>Chart of the week<\/h2>\n<p>April\u2019s new jobs creations have fallen far short of expectations. While the consensus had been for nearly one million new jobs to be created, only 266,000 materialised. Is this a sign of a more anaemic recovery than was expected?<\/p>\n<p>Several indicators suggest that the situation is due to a shortage in labour supply. The increase in the number of hours worked and the sharp rise in hourly wages can be interpreted as signs that companies are finding it hard to recruit staff.<\/p>\n<p>When asked about this issue, small businesses report that it has been unusually difficult to fill job openings. The situation even seems to have deteriorated significantly in recent months.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-16581\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2021\/05\/graphique-semaine-18-angl-300x165.jpg\" alt=\"\" width=\"711\" height=\"391\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2021\/05\/graphique-semaine-18-angl-300x165.jpg 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2021\/05\/graphique-semaine-18-angl-1024x564.jpg 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2021\/05\/graphique-semaine-18-angl-768x423.jpg 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2021\/05\/graphique-semaine-18-angl-1536x846.jpg 1536w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2021\/05\/graphique-semaine-18-angl.jpg 1947w\" sizes=\"auto, (max-width: 711px) 100vw, 711px\" \/><\/p>\n<h2><b>OUR ANALYSIS<\/b><\/h2>\n<p>Anecdotal evidence suggests that businesses, particularly in the restaurant industry, are struggling to find new employees. The [1]JOLTS survey for March also showed an historically low rate of employment layoffs and an exceptionally high voluntary quits rate.<\/p>\n<p>So, what might be causing the problem? Career changes may be part of the explanation, as some people have switched sectors and do not want to return to their previous field of work. However, the number of unemployed remains stubbornly high, as does the number of people voluntarily quitting their jobs.<\/p>\n<p>The situation may be a consequence of pandemic unemployment assistance: at $300 per week, some people are receiving at least the same amount in unemployment benefit as their original wage, which reduces the incentive to return to work. While the scheme is due to expire at the beginning of September, the Biden administration has already announced that those refusing a job offer will no longer be able to collect their unemployment benefit.<\/p>\n<p>&nbsp;<\/p>\n<p>See also:\u00a0<a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/us-weekly-jobless-claims-improving-significantly\/\">https:\/\/latribune.lazardfreresgestion.fr\/en\/us-weekly-jobless-claims-improving-significantly\/<\/a><\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">[1]JOLTS: The Job Openings and Labor Turnover Survey program produces data on job openings, hires, and separations<\/span><\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">The following opinion was written on May 12th 2021 and is susceptible of changing.<\/span><\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">Sources : Bloomberg and Lazard Fr\u00e8res Gestion, May 12th 2021<\/span><\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 &#8211; Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES &#8211; 75008 PARIS, FRANCE<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chart of the week April\u2019s new jobs creations have fallen far short of expectations. While the consensus had been for&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":16585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148,97],"tags":[2310,2311,2312,1922],"class_list":["post-16589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","category-news","tag-job-market","tag-little-businesses","tag-restaurant-industry","tag-united-states"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>United States desperately seeking workers &#8211; Tribune Lazard Fr\u00e8res Gestion<\/title>\n<meta name=\"description\" content=\"United States desperately seeking workers Tribune Lazard Fr\u00e8res Gestion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/united-states-desperately-seeking-workers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United States desperately seeking workers &#8211; 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