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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="Northeast Stinger" data-source="post: 810701" data-attributes="member: 1640"><p>Wall Street Journal had a pretty comprehensive article about the economy a couple of days ago. Sorry I don’t know how to link from my phone.</p><p></p><p>Lots of data points. Paraphrasing from memory. Pandemic caused lots of companies and workers to seek alternatives. Computer chip makers lost the car market during pandemic and now have new clients. Car manufacturers are now running again but can’t get chips and other parts. Costs of cars have gone up almost 30% as a result. Supply chain problems in the economy will cause inflation for the rest of this year most likely.</p><p></p><p>Warehouse workers are tired of living in middle of nowhere without good internet, without access to health care and poor wages, and are moving to more urban areas. Again, the pandemic changed the pattern for workers and wages are now going up in a currently vain attempt to find workers.</p><p></p><p>Something like 70% of people looking for new jobs were in restaurants and hospitality. (I can vouch from my travels that getting servers in a restaurant is a challenge in many places) Many say they will never work in a restaurant again for low pay and long hours, especially when they were left high and dry during the pandemic. </p><p></p><p>Lots of office workers will only work jobs now where they can connect by zoom for their work, at least part of the time. Pandemic showed them they could get more done without office meetings and they saved a couple of hours commuting time every day.</p><p></p><p>Entire economy is shifting. Many people want more flexibility about where they live and want to be able to visit family more often. Pandemic caused major reassessment of values and what is important.</p><p></p><p>Another inflation factor not in this article but in previous WSJ articles prior to the pandemic is that we are no longer receiving new immigrants at a rate sufficient for a growing economy. We have pockets of communities around the country that literally do not have a work force for the available jobs.</p></blockquote><p></p>
[QUOTE="Northeast Stinger, post: 810701, member: 1640"] Wall Street Journal had a pretty comprehensive article about the economy a couple of days ago. Sorry I don’t know how to link from my phone. Lots of data points. Paraphrasing from memory. Pandemic caused lots of companies and workers to seek alternatives. Computer chip makers lost the car market during pandemic and now have new clients. Car manufacturers are now running again but can’t get chips and other parts. Costs of cars have gone up almost 30% as a result. Supply chain problems in the economy will cause inflation for the rest of this year most likely. Warehouse workers are tired of living in middle of nowhere without good internet, without access to health care and poor wages, and are moving to more urban areas. Again, the pandemic changed the pattern for workers and wages are now going up in a currently vain attempt to find workers. Something like 70% of people looking for new jobs were in restaurants and hospitality. (I can vouch from my travels that getting servers in a restaurant is a challenge in many places) Many say they will never work in a restaurant again for low pay and long hours, especially when they were left high and dry during the pandemic. Lots of office workers will only work jobs now where they can connect by zoom for their work, at least part of the time. Pandemic showed them they could get more done without office meetings and they saved a couple of hours commuting time every day. Entire economy is shifting. Many people want more flexibility about where they live and want to be able to visit family more often. Pandemic caused major reassessment of values and what is important. Another inflation factor not in this article but in previous WSJ articles prior to the pandemic is that we are no longer receiving new immigrants at a rate sufficient for a growing economy. We have pockets of communities around the country that literally do not have a work force for the available jobs. [/QUOTE]
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