U.S. News
Mitch McConnell: Labor shortage will be solved when Americans run out of stimulus money
WHAT YOU NEED TO KNOW:
- Senator Mitch McConnell says that labor shortages will be solved when people run out of stimulus savings.
- McConnell said Americans are ‘flush for the moment’.
- Businesses have been complaining about labor shortages since 2021.
Businesses have been complaining about how hard it is to hire workers since 2021.
On Tuesday, Senate Minority Leader Mitch McConnell said that it must have something to do with the stimulus money.
“You’ve got a whole lot of people sitting on the sidelines because, frankly, they’re flush for the moment,” he 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.”
Most Americans were able to save during the pandemic because of several federal stimulus aid packages. According to estimates by Moody’s Analytics, American households had an extra cash cushion totaling $2.6 trillion from the beginning of the pandemic through the end of 2021.
In March 2021, Democrats passed President Joe Biden’s stimulus law after two previous rescue packages that were approved by the Trump administration. McConnell opposed that law.
Since then, Republicans have blamed the $1,400 stimulus aid to Americans for the historic inflation and labor shortage.
Economists have identified other drivers of labor shortages including home address change, the ongoing pandemic uncertainty; open positions might not be the right fit, or workers wanting better-paying work.
Experts suggest businesses offer higher wages and more flexible workplaces or adjust job descriptions and requirements to draw in a larger pool of potential workers.
According to Business Insider, Americans have been quitting work at near-record rates for the past year but hiring and job openings remain strong, indicating that many workers are quitting for better-paying jobs, especially in low-wage industries.
Kentucky, McConnell’s home state, was briefly the epicenter of the Great Resignation and labor shortage. In June, Moody’s Analytics said that Americans had started to draw down their savings as inflation soars at its fastest pace in four decades.
Source: Insider
Isaac
July 6, 2022 at 11:18 am
Typical RINO POS. If he actually believes that the little amount of money redistributed by the government is still in the pockets of the recipients he needs to go back to ECO 101.
CharlieSeattle
July 6, 2022 at 4:00 pm
Cocaine Mitch has a CCP spy for a wife!
Everett
July 7, 2022 at 6:48 pm
This RINO is just as delusional as his buddy in the White House. When the “stimulus” money runs out, they will just get the BLM and antifa, along with all the other “recipient queens” to riot, loot and burn down hard-working American businesses and property until Mitch and his buddies give in to MORE stimulus checks. That’s how the communist, fascist jackass agenda works these days.