'WHERE ARE THE WORKERS?': Jobs report shows labor shortage 'a real curse' for the economy, expert warns
as we had at the height of the boom in the Trump years, there's one big difference between the 3.5% unemployment rate then and the 3.5% unemployment rate we have today. And the difference is 4 million workers, we had 4 million more people in the workforce adjusted for the labor force participation rate. And so, there is a huge shortage of workers in this country right now, it's becoming a real curse.
After the September jobs report was released, FreedomWorks economist and former Trump adviser Steve Moore said the worker shortage is becoming"a real curse" for the U.S. economy on"Mornings with Maria" Friday, October 7, 2022. And now, why is it happening? I can explain this very easily... Even when you adjust for the fact that we've gotten rid of the, when you include the rental assistance, the increase in food stamps, the increase in $300 per child tax credits, all of these things – in a state like Massachusetts, you can have two parents and two kids, nobody working, not a single hour, and they can get $90,000 to $100,000 in benefits. It's crazy.
And I think what happened is during the pandemic, a lot of people obviously were laid off from their jobs when we shut down businesses, and just so many of those people haven't come back. Let's say you're a truck driver, you make $90,000 a year or $80,000 a year, you can get $60,000 to $70,000 for sitting at home. That's a tough job. Try to get an electrician. Try to get a try to get a delivery person. Try to get somebody who will do any kind of work around your home.
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