Everyone in Belgium is talking about labor shortages. Is this a universal phenomenon?
I suspect that what’s really happening is inflation:
=> Higher input costs for biz + higher cost of living
=> biz can’t offer wages that make economic sense for workers.
look at the demographics... babyboomers retiring everywhere
It's not only demographics, but also because Fiat money provides the wrong incentives.
Additionally, some markets are over regulated so that free markets can't blossom.
You can easily identify how broken something is when you read a sign saying:
"We're closed due to NO STAFF"
That means in other words:
"We're a zombie business and can't pay reasonable wages!"
Or
"We're used to operate in a regulated environment, without free competition and just want to pay the minimum wages!"
I think, profitable corporations are able and willing to pay competitive wages to strive and provide the services demanded to operate successful.
#Bitcoin will fix this!
And too much government handouts
service industry in the US
agrees with you
But instead of letting the market raise wages ..let's bring in another wave of migrants.
Just the prospect of volatile price inflation disincentivizes businesses from investing (either in capital or labor) because it's hard to know what your variable costs will be in the future. Relative price stability allows more accurate economic calculation.
Not sure about Belgium. I'm the States, there's no shortage of white collar workers lined up for jobs, but blue collar workers are in demand and definitely short. The average age of plumbers and electricians is near 55. We've fallen under the fallacy that good jobs require college and IMO this is the result. Many blue collar jobs after a few years experience will pay in the 6 figures. Someone going into a trade will have almost all their education paid by an employer. I think this trend in college education enslavement will be changing in the next generation. I know my children are not being told the only way to make it is with a college education.
Talking to a friend entrepreneur, it really does appear to be a shortage of skilled labor. Or: a glut of unskilled people in working age. In other words, the service economy is starting to crumble, with needs shifting to the primary industries of fuel, food, basic living requirements.
Do you mean a glut of people skilled just with corporate emails and spreadsheets?
There is definitely a shortage here in Japan.
More and more foreigners working in convenient stores, constructions, retail etc…
🎯
It looks like it's a world-wide phenomenon. That said, today I saw an article saying mass layoffs are increasing in numbers (in Czech Republic) and starting to be significant. Only a few weeks back this would seem impossible.
Many Czech companies supply stuff to German companies, so this could be the first dominos shaking. Maybe.
