{"id":1100740,"date":"2021-12-08T23:29:15","date_gmt":"2021-12-09T04:29:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1100740"},"modified":"2021-12-08T23:29:18","modified_gmt":"2021-12-09T04:29:18","slug":"there-are-now-3-6-million-more-jobs-than-people-willing-to-take-them","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/there-are-now-3-6-million-more-jobs-than-people-willing-to-take-them\/","title":{"rendered":"There Are Now 3.6 Million More Jobs Than People Willing To Take Them"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthere-are-now-3-6-million-more-jobs-than-people-willing-to-take-them%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1100740&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Department of Labor revealed that the number of job openings is expanding, thereby worsening a labor market already placing immense pressure on businesses.<\/p>\n<p>The agency\u2019s most recent Job Openings and Labor Turnover Survey (JOLTS), which analyzes data from October, shows that there are 11.03 million job openings in the United States \u2014 exceeding the number of people actively searching for work by 3.6 million.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2021\/12\/08\/jolts-october-report-great-resignation-slowed-job-openings-jumped.html\">CNBC<\/a> reported:<\/p>\n<p>The JOLTS report is closely watched at the Federal Reserve and elsewhere for signs of labor market tightness\u2026<\/p>\n<p>The coronavirus pandemic has seen quits surge to what had been record highs. Even with October\u2019s decline, the level is still 24% above where it was a year ago. Economists generally see the exodus as greater opportunity in the pandemic-era jobs market spurred by many workers still reluctant to come off the sidelines either because of child-care issues or health concerns.<\/p>\n<p>Through November, the labor force was still about 2.4 million smaller than what it had been in February 2020. The total employment level was more than 3.5 million down.<\/p>\n<p>Many point to historic levels of government stimulus programs as a contributing factor to low job market participation.&nbsp;<\/p>\n<p>In an August interview with <a href=\"https:\/\/www.dailywire.com\/news\/the-bidenomics-issues-every-american-should-know-about-kevin-brady-on-unemployment-taxes-and-inflation?al_applink_data=%7B%22target_url%22%3A%22https%3A%5C%2F%5C%2Fwww.dailywire.com%5C%2Fnews%5C%2Fthe-bidenomics-issues-every-american-should-know-about-kevin-brady-on-unemployment-taxes-and-inflation%3Futm_source%3Dfacebook%26utm_medium%3Dsocial%26utm_campaign%3Dbenshapiro%26fbclid%3DIwAR0Sa-er6T2DegajAR3H8AnAVVQICMSDxgOQqqCSBTcdD9zKIqUymTRvJ-g%22%2C%22extras%22%3A%5B%5D%2C%22referer_app_link%22%3A%7B%22url%22%3A%22fb%3A%5C%2F%5C%2F%5C%2F%22%2C%22app_name%22%3A%22Facebook%22%7D%7D\">The Daily Wire<\/a>, Rep. Kevin Brady (R-TX) \u2014 the Ranking Member of the House Ways and Means Committee, which is responsible for deliberating taxes and other fiscal policy measures \u2014 noted that the American Rescue Plan\u2019s $300-per-week enhanced federal unemployment insurance was \u201ccrushing Main Street businesses.\u201d<\/p>\n<p>\u201cCompanies of all sizes simply can\u2019t find the workers they need,\u201d he observed, \u201cwhether they\u2019re retailers, restaurateurs, or production lines \u2014 this is inevitable when you pay four out of ten Americans more to stay home than to work.\u201d<\/p>\n<p>Though the enhanced unemployment checks expired in September, Brady observed similar distortionary effects from Child Tax Credits. The lawmaker recalled a recent visit with a group of restaurant owners in Maryland \u2014 one of whom noted that a top employee was able to entirely quit her job because of the payouts.<\/p>\n<p>\u201cFor the first time, it is divorced from work. That\u2019s not a requirement for getting it, and so you\u2019re seeing this barrier begin to impact businesses starting last week,\u201d Brady said. \u201cI think the point here is that the federal government is sending a seemingly never-ending supply of checks, regardless of whether you work or not. You\u2019re going to have economic problems, and that\u2019s what we\u2019re seeing.\u201d<\/p>\n<p>Amid the tighter labor market \u2014 and inflationary pressures \u2014 many major companies are hiking wages. Roughly 39% of respondents in a Conference Board poll <a href=\"https:\/\/www.dailywire.com\/news\/major-companies-raise-wages-to-keep-up-with-inflation\">said<\/a> that rising price levels are a motivating factor for the wage hikes.<\/p>\n<p>However, higher pay does not necessarily correspond to higher living standards; since President Biden took office, Americans\u2019 inflation-adjusted wages have been <a href=\"https:\/\/www.dailywire.com\/news\/americans-inflation-adjusted-wages-continue-to-decline\">declining<\/a>.<\/p>\n<p>\u201cThe impacts of wages on inflation and of inflation on wages are now stronger than they have been in recent decades,\u201d said Conference Board chief economist Gad Levanon.<\/p>\n<p>The most recent inflation data from the Department of Labor reveal that consumer prices are increasing at a 6.2% clip \u2014 continually outpacing economists\u2019 expectations and matching rates last seen three decades ago. Indeed, Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell recently <a href=\"https:\/\/www.dailywire.com\/news\/janet-yellen-admits-inflation-shouldnt-be-labeled-transitory\">said<\/a> that officials should retire the term \u201ctransitory\u201d as a descriptor for the current inflation environment.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Department of Labor revealed that the number of job openings is expanding, thereby worsening a labor market already placing immense pressure on businesses.The agency\u2019s most recent Job Openings and Labor Turnover Survey (JOLTS), which analyzes data from October, shows that there are 11.03 million job openings in the United States \u2014 exceeding the number of people actively searching for work by 3.6 million.CNBC reported:The JOLTS report is closely watched at the Federal Reserve and elsewhere for signs of labor market tightness\u2026The coronavirus pandemic has seen quits surge to what had been record highs. Even with October\u2019s decline, the level is still 24% above where it was a year ago. Economists generally see the exodus as greater opportunity in the pandemic-era jobs market spurred by many workers still reluctant to come off the sidelines either because of child-care issues or health concerns.Through November, the labor force was still about 2.4 million smaller than what it had been in February 2020. The total employment level was more than 3.5 million down.Many point to historic levels of government stimulus programs as a contributing factor to low job market participation.\u00a0In an August interview with The Daily Wire, Rep. Kevin Brady (R-TX) \u2014 the Ranking Member of the House Ways and Means Committee, which is responsible for deliberating taxes and other fiscal policy measures \u2014 noted that the American Rescue Plan\u2019s $300-per-week enhanced federal unemployment insurance was \u201ccrushing Main Street businesses.\u201d\u201cCompanies of all sizes simply can\u2019t find the workers they need,\u201d he observed, \u201cwhether they\u2019re retailers, restaurateurs, or production lines \u2014 this is inevitable when you pay four out of ten Americans more to stay home than to work.\u201dThough the enhanced unemployment checks expired in September, Brady observed similar distortionary effects from Child Tax Credits. The lawmaker recalled a recent visit with a group of restaurant owners in Maryland \u2014 one of whom noted that a top employee was able to entirely quit her job because of the payouts.\u201cFor the first time, it is divorced from work. That\u2019s not a requirement for getting it, and so you\u2019re seeing this barrier begin to impact businesses starting last week,\u201d Brady said. \u201cI think the point here is that the federal government is sending a seemingly never-ending supply of checks, regardless of whether you work or not. You\u2019re going to have economic problems, and that\u2019s what we\u2019re seeing.\u201dAmid the tighter labor market \u2014 and inflationary pressures \u2014 many major companies are hiking wages. Roughly 39% of respondents in a Conference Board poll said that rising price levels are a motivating factor for the wage hikes.However, higher pay does not necessarily correspond to higher living standards; since President Biden took office, Americans\u2019 inflation-adjusted wages have been declining.\u201cThe impacts of wages on inflation and of inflation on wages are now stronger than they have been in recent decades,\u201d said Conference Board chief economist Gad Levanon.The most recent inflation data from the Department of Labor reveal that consumer prices are increasing at a 6.2% clip \u2014 continually outpacing economists\u2019 expectations and matching rates last seen three decades ago. Indeed, Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell recently said that officials should retire the term \u201ctransitory\u201d as a descriptor for the current inflation environment.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1100740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1100740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1100740"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1100740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1100740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1100740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1100740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}