Home Economy Crew, Chip Shortages Plaguing US Economy – ShareCafe

Crew, Chip Shortages Plaguing US Economy – ShareCafe

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Shortages of workers and computer chips are having a dramatic impact on the US economy – boosting and helping keep inflation higher while shutting car plants and other factories and forcing retailers to boost wages of store and other staff.

No matter the monthly jobs figures and continuing pool of unemployed, it is clear the US has a growing, not shrinking labour shortage.

For many in business and on the right its employment benefits that are causing people to remain out of the labour market (though recent studies of states that have ended benefits do not prove that contention).

In fact, many economists say the biggest barriers to labour mobility in the US are the rapidly rising cost of housing (up a huge 19% in the year to June, from 17.7% in May) which inhibits internal migration, weak wage growth and at the moment, fears of moving to Covid-slack states in the South (Florida and Texas for example) where health coverage is weak, vaccinations…

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