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Navigating America’s Labor Shortage
During the pandemic in 2020, more than 120,000 businesses closed temporarily which led to some 30 million unemployed workers.
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Oct. 6, 2023 | by: Solaren Risk Management
Solaren Risk Management: Navigating America’s Labor Shortage
During the pandemic in 2020, more than 120,000 businesses closed temporarily which led to some 30 million unemployed workers. The nation still has not fully recovered from this loss, but we are slowly getting back on track. As of this year, there are 8.8 million jobs available but only 6.3 million unemployed workers. Why is that? What could explain that gap? The Chamber of Commerce has a few answers.
When the pandemic hit and many people were laid off from work
When the pandemic hit and many people were laid off from work, a sizeable portion, around 3 million people, went ahead and opted for an early retirement. They decided that it was the perfect opportunity to go ahead and leave their careers and focus on other things as the world was in flux. Immigration levels were also significantly low around this time with a 76% drop. This is significant for the United States as a large portion of the work force are immigrant laborers.
Access to childcare has also been a significant issue as few people can afford it after being off work for so long.
Another factor in this is that childcare workers were laid off as well and so it has become a vicious cycle of people needing childcare to work and childcare needing people to work as well. Similar to those who retired early, some began their own businesses after the pandemic while others simply chose to live off of healthy savings. All these factors discovered by the Chamber of Commerce’s research help to explain some of the reasons behind America’s labor crisis, but what is Solaren doing to help?
We are always looking for more security professionals whether they be off-duty law enforcement or armed/unarmed security. We are invested in our staff because their professionalism and customer service are one of the reasons why our company has grown so much. Offering different incentives allows us to not only support our current staff, but also attract potential hires. Our newest incentive is an opportunity for a $1,000 sign-on bonus for any security professionals interested in working in a suit and tie position at a Nashville hotel. If you or someone you know is interested, please go to www.solarenrm.com/jobs/ to apply with us today!
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Tags: Understanding America’s labor shortage, U.S. Chamber of Commerce, Solaren Risk Management
Sources: Ferguson, S. (2023, September 29). Understanding America’s labor shortage. U.S. Chamber of Commerce. https://www.uschamber.com/workforce/understanding-americas-labor-shortage
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