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Confusing Trends in the Job Market: Shortages, Competition, Record Number of New Companies Formed

Posted June 22nd, 2021 | Author: John G. Self

VIDEO BLOG: 60 Seconds


What’s going on with the job market?  First, we have witnessed shortages for service industry workers. Then we hear about highly competitive markets for managers and executives.

Let’s look at these two major trends and one amazing phenomenon.

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Competition for executive and management openings is intense due to a continuing industry consolidation, some of it Covid-related.  We have yet to regain more than 8 million lost jobs.

After a year of scraping by, numerous hourly workers have opted not to return to primary employers where many had to work two or more jobs to provide lifestyle essentials.

JohnGSelf

There are worker shortages in restaurants, retail, and other hourly service jobs.  After a year of scraping by, numerous hourly workers have opted not to return to primary employers where many had to work two or more jobs to provide lifestyle essentials.

Then there is this amazing development.  More than 4 million new companies were formed in 2020, by far a modern record.  A record 38 percent of Americans took courses to add to their professional skill sets, more than double the number in recent years.

Is this the start of a new form of worker migration?

© 2021 John Gregory Self

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