Is There Really a Labor Shortage?

A Brandon Motor Lodge displays a 'Help Wanted' sign in Brandon, Florida, on June 1, 2021. Octavio Jones/REUTERS

You’ve probably seen the “help wanted” signs in shops and restaurant windows. Owners and managers complain that they can’t find help. And you know it’s true because it usually takes twice as long to get served as it did before COVID-19.

There doesn’t seem to be enough people to fill the jobs. But is that really what’s going on? The answer is more complex than you might think.

Unemployment Rate Pre- and Post-Pandemic

The last couple of years have been a rocky road for workers. The economy was thriving in 2019, with unemployment at 3.5 percent. That was the lowest rate since 1969. But then the walls came crashing in when COVID-19 hit.