11 May

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McConnell: Biden Stimulus Has Created Labor Shortage

The Washington Post (5/6) reported that last Thursday, Senate Minority Leader McConnell “alleged that the Biden administration’s stimulus law, which included $1,400 checks and new unemployment assistance for millions of Americans, had created a massive labor shortage that threatens to hold back the country’s economic recovery.” McConnell said. “Regretfully, it’s actually more lucrative for many Kentuckians and Americans to not work than work. So we have a workforce shortage, and we have raising inflation, both directly related to this recent bill that just passed.” According to the Post, “Employers across a range of industries have complained that it is difficult to find workers, even though millions of Americans remain unemployed.”

Bloomberg (5/6, Lubbers, Rockeman, Pickert) sad there is “a growing debate about whether there are enough workers to power faster economic growth” as companies “from fast food chains like Chipotle Mexican Grill Inc. to chicken producer Pilgrim’s Pride Corp. and MGM Resorts International say they can’t find – or entice – enough workers.” Bloomberg said that “executives often blame stimulus checks and generous unemployment benefits for hampering hiring efforts. But economists and policy makers are unclear about what’s really causing this gap and how long it will last.”

The New York Times (5/6, McCabe) reported employers “have said in recent weeks that they would like to hire even faster but have struggled to find enough workers,” and “some have blamed enhanced unemployment benefits for discouraging people from returning to work.”

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