(RightIsRight.co) – There seems to be a light at the end of the tunnel as far as the COVID-19 pandemic goes. But, as companies begin posting more jobs as they anticipate permanent re-openings, it seems not as many Americans are willing to fill them as before.
New data published by ZipRecruiter, an online job site, shows that the average number of online job postings is quite a bit higher than the labor force participation rate. Goldman Sachs predicted this boom earlier this year:
The job market is about to boom: Goldman Sachs https://t.co/v3o9L5QeD4 by @BrianSozzi pic.twitter.com/CJ2B4VCceS
— Yahoo Finance (@YahooFinance) March 9, 2021
ZipRecruiter’s labor economist, Julia Pollak, called it the “vaccination job boom,” but noted it will take some time before unemployed people decide to apply for jobs again.
Between the high unemployment payments people have received, and months-long discouragement of not hearing back from jobs, many Americans find themselves without the desire to go back to work right now. It could take a few weeks to months before Americans actually rejoin the workforce and we see these numbers balance back out.
While the number of job openings is encouraging for our economy, this story does show the detrimental impact that government handouts and unemployment payments can have when given out without understanding the long-term effects.
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