Current Events > Turtle: ''Labor shortage will be solved when people run out of stimulus money''

Topic List
Page List: 1
wackyteen
07/06/22 8:44:42 AM
#1:


https://www.businessinsider.com/mitch-mcconnell-labor-shortage-end-people-run-out-stimulus-money-2022-7


For over a year, lawmakers and businesses have been bemoaning how they can't find workers.
Senate Minority Leader Mitch McConnell offered his own theory as to why at an event in Paducah, Kentucky, on Tuesday.
"You've got a whole lot of people sitting on the sidelines because, frankly, they're flush for the moment," the Kentucky Republican said. "What we've got to hope is once they run out of money, they'll start concluding it's better to work than not to work."
Americans built up a huge amount of savings during the pandemic, thanks to several federal rescue packages. Moody's Analytics estimates that households built up an extra cash cushion totaling $2.6 trillion from the beginning of the pandemic through the end of 2021.
McConnell opposed President Joe Biden's stimulus law, which passed with only Democratic votes in March 2021 after two previous rescue packages approved by the Trump administration. Republicans have long blamed that $1,400 direct payment to Americans for worsening inflation and helping keep people out of the workforce.
Economists have identified a multitude of reasons for the labor shortage: People moved away from locations with open positions; parents haven't been able to return to work as they deal with ongoing pandemic uncertainty; and the open roles might not be the right fit in terms of skills or pay for people looking to switch jobs.
These reasons suggest possible solutions other than McConnell's plan to wait out savings. Businesses could offer higher wages and more flexible workplaces, and even tweak job descriptions and requirements to attract a larger pool of potential employees.
In the meantime, the labor market has seen a robust recovery, with jobs set to fully recover by this summer. The employment-population ratio for Americans ages 25-54 considered prime age for employment has crept above July 2019 levels, according to data from the St. Louis Federal Reserve. Unemployment sits at a historic low of 3.6%.
While, for the past year Americans have been quitting at near-record rates, hiring and job openings remain strong. That indicates that many people are quitting for higher-paying jobs, especially in low-wage industries which have also anecdotally struggled the most to hire.
Kentucky, McConnell's home state, was briefly the epicenter of the Great Resignation. The sheer number of workers quitting and leaving the workforce was powered by structural conditions that existed long before the pandemic and only exacerbated by COVID-19. That includes lack of affordable childcare, a low minimum wage, and worries over safety during a still-raging pandemic.
Moody's said in June that Americans had begun to draw down their savings with prices rising at their fastest pace in four decades.

Wait, you guys have savings?

---
The name is wackyteen for a reason. Never doubt.
... Copied to Clipboard!
#2
Post #2 was unavailable or deleted.
WingsOfGood
07/06/22 8:47:58 AM
#3:


These idiots think people been living 2 years off
$1400

And sadly a segment of the population is that gullible
... Copied to Clipboard!
Southernfatman
07/06/22 8:49:20 AM
#4:


He knows better. He knows his party's idiot supporters will believe it though and blame "government handouts" again.

---
http://i.imgur.com/hslUvRN.jpg
When I sin I sin real good.
... Copied to Clipboard!
LeoRavus
07/06/22 8:50:05 AM
#5:


Republicans have long blamed that $1,400 direct payment to Americans for worsening inflation and helping keep people out of the workforce.

Yeah man that's like winning the lottery. Americans can pay their bills for years with $1400

---
This is where cool people write stuff.
... Copied to Clipboard!
Strider102
07/06/22 8:50:20 AM
#6:


WingsOfGood posted...
These idiots think people been living 2 years off
$1400

And sadly a segment of the population is that gullible

They don't live in reality.

---
Last Cloudia ID: 188850453
... Copied to Clipboard!
wackyteen
07/06/22 8:51:05 AM
#7:


WingsOfGood posted...
These idiots think people been living 2 years off
$1400

And sadly a segment of the population is that gullible

The stimulus money came what, 3 times?

And some of it varied by amount of kids, no?

Regardless, nobody living off the, what, at most $10K? $15K? They made.

---
The name is wackyteen for a reason. Never doubt.
... Copied to Clipboard!
warlock7735
07/06/22 8:51:07 AM
#8:


No mention of the fact that a shit ton of people died or were disabled in some manner from covid, right?

---
CE Mafia Archive
https://www.dropbox.com/sh/u3gaka98zsp3m0e/AADYBrilDyGYhlAbpEnac5d_a?dl=0
... Copied to Clipboard!
Dark_twisted
07/06/22 8:52:19 AM
#9:


The ones who still have that money were the people who were never out of work and doesn't factor into the labor shortage at all.

---
Wrestling fans are the worst thing about being a wrestling fan.
... Copied to Clipboard!
Strider102
07/06/22 8:52:40 AM
#10:


warlock7735 posted...
No mention of the fact that a shit ton of people died or were disabled in some manner from covid, right?

They don't care about those people.

---
Last Cloudia ID: 188850453
... Copied to Clipboard!
creativerealms
07/06/22 8:52:50 AM
#11:


That money is long gone.

---
Star Trek: woke since 1965 and still going.
... Copied to Clipboard!
KnightofShikari
07/06/22 8:52:56 AM
#12:


and how much was siphoned off to various corporations through the PPP and bailouts that didn't go anywhere except to the rich people's pockets?

---
The Earth is round. Two plus two equals four. Joe Biden and Kamala Harris won the 2020 election for President and Vice President of the United States
... Copied to Clipboard!
untrustful
07/06/22 8:54:45 AM
#13:


stimulus what?

---
"There is little anyone can do with fanatics. Reasoning with them is a fool's errand. Avoiding them is mandatory." ~Former Conservative Talk Show Host
... Copied to Clipboard!
#14
Post #14 was unavailable or deleted.
gunplagirl
07/06/22 8:56:16 AM
#15:


Okay so basically, because people were given some extra money from the stimuluses, some of us who didn't have to immediately spend that amount managed to get a bit of money into savings. But uh, the amount isn't even as much as was sent out to people. And most of it has long since been spent because of rising costs and inflation and loss of jobs in multiple sectors. :l

But hey, they can misrepresent the numbers to make it seem like we're all living pretty off that money.

---
tfw no big tiddy goth vampire gf who lactates blood - viewmaster_pi
... Copied to Clipboard!
WingsOfGood
07/06/22 8:57:38 AM
#16:


wackyteen posted...
The stimulus money came what, 3 times?

And some of it varied by amount of kids, no?

Regardless, nobody living off the, what, at most $10K? $15K? They made.


Trying to make sense of this?
You shouldn't.

Your own article said:

Republicans have long blamed that $1,400 direct payment to Americans for worsening inflation and helping keep people out of the workforce.

They are that dumb.
... Copied to Clipboard!
LincolnDuncan
07/06/22 8:58:43 AM
#17:


"frankly, they're flush for the moment"

*flips desk*

---
"I'm not a very nostalgic person, I neither have regrets nor occasions for self-congratulations." - Leonard Cohen
... Copied to Clipboard!
masterpug53
07/06/22 8:59:15 AM
#18:


I guess 'the peons will come crawling back to their shit jobs any day now' is the new 'there's always going to be more oil somewhere out there' when it comes to inexhaustible Republican self-delusion.

---
Simple questions deserve long-winded answers that no one will bother to read.
https://imgur.com/eW67nT8 - Artwork by Wii_Shaker
... Copied to Clipboard!
CADE FOSTER
07/06/22 8:59:22 AM
#19:


That's why we need an age limit in his head 1600 dollars is a lot of money but it's not 1950 Mitch
... Copied to Clipboard!
WingsOfGood
07/06/22 9:03:18 AM
#20:


CADE FOSTER posted...
That's why we need an age limit in his head 1600 dollars is a lot of money but it's not 1950 Mitch

probably thinks people bought a house with the $1400
... Copied to Clipboard!
Jiek_Fafn
07/06/22 9:17:00 AM
#21:


Unemployment rate is where it should be. Olds just retired/died a lot more since covid. Maybe don't push people to fuck off and die next time?

---
I don't believe in belts. There should be no ranking system for toughness.
... Copied to Clipboard!
MC_BatCommander
07/06/22 9:21:59 AM
#22:


It's just rent, how much could it be? 200 dollars per month?

---
The Legend is True!
... Copied to Clipboard!
LightHawKnight
07/06/22 9:25:40 AM
#23:


There is no unbrainwashing idiot republican voters is there?

---
The Official Odin of the Shin Megami Tensei IV board.
"You know how confusing the whole good-evil concept is for me."
... Copied to Clipboard!
Heineken14
07/06/22 9:30:06 AM
#24:


He doesn't think this and knows that the average person who got the stimulus checks isn't "flush with cash." Mitch is an old, evil, terrible, what some would classify as a human being. He's not a fucking mouth breathing dumb fucking idiot like Boebert or Greene. He's saying this because he knows most of his base look up to people like Boebert and Greene as being highly intelligent.

---
Rage is a hell of an anesthetic.
... Copied to Clipboard!
WingsOfGood
07/06/22 9:30:58 AM
#25:


LightHawKnight posted...
There is no unbrainwashing idiot republican voters is there?

even those working low paying jobs who got and enjoyed these stimmys are onboard saying the same stimmy destroyed the economy.
And yet it was just Biden's stimmy, not Trumps...
... Copied to Clipboard!
Heineken14
07/06/22 9:34:02 AM
#26:


WingsOfGood posted...


even those working low paying jobs who got and enjoyed these stimmys are onboard saying the same stimmy destroyed the economy.
And yet it was just Biden's stimmy, not Trumps...


Yep, and that's precisely why Mitch is saying shit like this, because he knows people are stupid enough to believe it. That they can gladly take that like 2k combined from Donnie without batting an eye, turn around and criticize Biden for only doing 1400 because they were accounting for the 600 Donnie gave, and then without a second thought say inflation is out of control because Biden gave out too much money.

---
Rage is a hell of an anesthetic.
... Copied to Clipboard!
Alucard188
07/06/22 9:35:23 AM
#27:


These guys really live in a different world that they think $1,100 in federal aid would be anything more than a month and a half worth of relief. My manager had to impress that on our general manager the other day when she petitioned for a cost of living increase in our wages.

---
Face it Cloud is a gaming icon and has appered in lots of games while mario has only appeared in 2 games sunshine and 64~xSlashbomBx
... Copied to Clipboard!
WingsOfGood
07/06/22 9:38:28 AM
#28:


Alucard188 posted...
These guys really live in a different world that they think $1,100 in federal aid would be anything more than a month and a half worth of relief. My manager had to impress that on our general manager the other day when she petitioned for a cost of living increase in our wages.

I think in some cases bosses play stupid like this because they just don't want to give you a raise and use whatever bs they can find.
... Copied to Clipboard!
Kami_no_Kami
07/06/22 9:40:34 AM
#29:


Holy shit. This is literally Let them eat cake levels of detachment.

Its like those times where Trump tried to claim that you get carded at the grocery store for buying cereal.

Its pathetic and insane that there are no mechanisms beyond other rich people to bring people like this to heel.

---
The leader of the virtual reality movement.
... Copied to Clipboard!
MabusIncarnate
07/06/22 9:42:41 AM
#30:


lmao 95% of the population had that shit spent the first week. That money is long gone, bitch turtle.

---
Eradicate but vindicate as "progress" creeps along. Puritan work ethic maintains its subconscious edge, as Old Glory maintains your consciousness.
... Copied to Clipboard!
Strider102
07/06/22 9:43:42 AM
#31:


*Insert Darth Mitch laugh here*

---
Last Cloudia ID: 188850453
... Copied to Clipboard!
#32
Post #32 was unavailable or deleted.
MrToothHasYou
07/06/22 9:45:17 AM
#33:


Even if someone qualified for the unemployment bonus the entire time it was in effect, which would be difficult to do given the limits on benefits that were in place, that plus the stimulus checks would only amount to like $20k (on top of what they made from their regular unemployment), and while that is a large chunk of change, it isnt enough to let that many people just float on savings for this long.

Meanwhile the Fed is raising interest rates because the unemployment rate is too low for their liking, and the labor force participation rate is only like 1% lower than it was pre-pandemic.

Everything is a fucking joke.

---
An Injury to One is an Injury to All
https://iww.org/
... Copied to Clipboard!
Topic List
Page List: 1