
Nicholas Anway is a student at Harvard Law School.
In today’s news and commentary: We’re in the midst of a “structural” labor shortage, giving workers bargaining power.
“It feels like we have a structural labor shortage out there,” said Federal Reserve Chair Jerome Powell late last week. And according to Business Insider, the tight labor market is a source of worker power. There are just under 4 million more jobs than workers in the labor force, the Fed reported; the aggregate labor force participation rate remains stuck below pre-pandemic levels. Powell pointed to three factors as driving the worker shortage. First, “accelerated retirements”: Goldman Sachs estimated that of the 2.5 million people who retired during the pandemic, 1.5 million retired early. Second, Powell emphasized the pandemic’s tragic effects on workers, explaining that “[c]lose to half a million who would have been working died from COVID.” Third, the market is “missing” over one million immigrant workers, according to Giovanni Peri, the director of the Global Migration Center at the University of California at Davis. “If you ask businesses, you know, pretty much everybody you talk to says there aren’t enough people,” Powell said. The labor market demand, reports Insider, means that “employers are still offering more in attempts to get workers.”
Daily News & Commentary
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June 11
DOJ charges David Huerta; unions clash with the administration on immigration; general counsel says Humphrey's Executor doesn't apply to the NLRB.
June 9
Budget proposes elimination of LSC; Colgate settles lawsuit with pensioners; and state and local officials braces for hurricane season following FEMA cuts.
June 8
Workers at Albertsons and Kroger in Washington State vote to authorize a strike; ICE agents arrest SEIU California President David Huerta during a protest; and a federal judge approves a $2.75 billion settlement allowing colleges to directly pay student-athletes.
June 6
Colorado clashes with ICE over information sharing, SCOTUS exempts a Catholic charity from paying unemployment compensation tax, and SCOTUS lowers bar for raising a Title VII reverse discrimination claim
June 5
Nail technicians challenge California classification; oral arguments in challenge to LGBTQ hiring protections; judge blocks Job Corps shutdown.
June 4
Federal agencies violate federal court order pausing mass layoffs; Walmart terminates some jobs in Florida following Supreme Court rulings on the legal status of migrants; and LA firefighters receive a $9.5 million settlement for failure to pay firefighters during shift changes.