US Economy: Growing, but Lack of Adequate Workforce

WASHINGTON: JUNE 7 – The US economy, which suffered a major economic crisis and unemployment in 2020 due to the Corona Virus epidemic, is now growing rapidly. The US economy, which has been reopening since the Corona Virus epidemic, is now facing labor shortages and supply problems. Many American companies have not been able to find workers, and it has been difficult to supply goods to meet customer demand.

“The situation is explosive now – it’s like lighting a lamp,” said Kirby Mallon, president of Elmer Schultz Services, a Philadelphia-based family firm. The company provides maintenance services for restaurants and kitchen utensils for customers.

“The labor market is out of control,” he said. We have not been able to find a technician. We opened the market so early that we were probably not ready. ‘ Experts in the field of economics did not anticipate the latest developments in the US economy. “Is it because the economy is strong or because of the relief provided by the federal government?”

There are many reasons to be happy: The US economy grew by 6.4 percent between January and March. The economy has grown by almost double digits in the last quarter. In the field of employment, 559,000 new jobs were created last May. Last April, such employment had increased by only 278,000.

On the other hand, millions of consumers who have been forced to stay at home for months have come out in the open and are eager to buy something. They have also been encouraged to spend 1,400 on relief provided by the federal government this year.

Similarly, American factories are operating at high capacity despite the shortage of supplies and workers. The Supply Management Institute’s index also reached 61.2 points last month. This indicator increases if it is above 50 points. The institute also said that 16 out of 18 major companies in the United States have not been able to supply enough. -AP