Biden Worker Shortage Worsens, Making Fed’s Job of Fighting Recession More Difficult
A year and a half into the Biden Administration, America is still facing a record labor shortage. A new U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover (JOLTS) survey revealed 10.72 million job openings in Biden’s cruel economy in September. With nearly a half a million more job openings than the previous month, President Biden’s labor shortage is surging.
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Biden policies have left Main Street desperate for workers.
- Main Street businesses have faced a record labor shortage with over 10 million job openings for nearly a year, after President Biden discouraged work with lavish COVID-era stimulus.
- Nearly half of business owners still have job openings they’re unable to fill – remaining near historic highs.
READ: Small Biz Stuck in Cruel Biden Economy as They Brace for Recession
Biden’s worker shortage makes the Fed’s job of fighting inflation more difficult.
- According to September’s JOLTS, there are about two job openings for every available worker. This shortage has fueled wage increases to keep up with rising prices from Biden-Flation, leaving the economy in a dangerous wage-price spiral.
- According to a new study, higher prices from Biden-Flation may not peak until July 2023, and won’t return to normal levels until 2025.
READ: Brady: Economy Is Shrinking, Inflation Raging, and Job Growth Slowing
The longer high inflation lasts, the harder a recession will be on American workers, families, and businesses.
- Economists warn that to break inflation, the economy may have to shed 6 million more U. S. jobs.
- Even former Obama-Biden economic advisor Larry Summers believes that the economy must have two years of 7.5 percent unemployment to solve Biden-Flation.
READ: Experts Warn Biden Economy Will Continue to Shrink Into Next Year
Small businesses have struggled through President Biden’s cruel economy with inflation, a worker shortage, and now more tax hikes and a recession.
- “President Biden should acknowledge he’s got a worker crisis. He’s not talked about it once. There are no policies for it. We can help him with that. We think there’s some smart things you could do to incentivize people to reconnect to work, versus the Biden policies that do the opposite.” – Ways and Means Republican Leader Rep. Kevin Brady (R-TX)
- Republicans’ Commitment to America means a stronger economy for American workers through pro-growth tax and deregulatory policies.
READ: Biden Admin’s War on Work Targets America’s Gig Economy