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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August 3
Queens College faculty stage protest; UAW holds presidential debate; the Protect College Sports Act gets new life.
August 2
WestJet flight attendants go on strike, and the American Federation of Government Employees challenges another VA attempt to terminate its collective bargaining agreement.
July 31
Legislators move to end mandatory arbitration in employment contracts; NYC tip laws result in greater pay for delivery workers; women's college basketball players seek to unionize.
July 30
Supreme Court denies Cemex's bid to pause bargaining order; employers remain exposed to Title VII suits over English-only rules; Texas judge declines to enjoin NLRB proceeding despite unconstitutional removal protections.
July 29
NYC public defender strikes spread to the Bronx; NLRB drops challenge to New York labor law after Amazon wins its case; new data shows appointments of women and minorities to S&P 500 boards at lowest level in a decade.
July 28
DOJ drops charges against SEIU California president; Massachusetts nurses file ULP against hospital; Democratic lawmakers look to remove damage caps in employment discrimination cases