After September marked the end of additional pandemic-induced unemployment benefits, workers didn’t flood the labor force as expected. According to the Job Openings and Labor Turnover Summary released on Oct. 12 by the Bureau of Labor Statistics, there were 10.4 million job openings at the end of August, with 6.3 million hires. The lag in hiring highlights an ongoing challenge for businesses across the country: As businesses reopen, some industries are struggling to find and keep workers.
However, a lack of applicants isn’t always negative for companies and profits. The shift to software, machines, and contactless methods was already underway in certain fields pre-pandemic, and the health crisis simply spurred on the process.
