Nobody Wants To Work In Michigan
It might be time to call "bullsh*t" on that.
It seems like we have heard the phrase "Nobody wants to work" from every person we know. Talking to every business owner and manager who is throwing their hands in the air and begging people to come to work - offering amazing sign on bonuses for those of us who never heard of such a thing for jobs in smaller factories and fast food, and still "no one wants to work."
However; the nationwide numbers tell a completely different story. The country has the lowest unemployment rate in over 50 years! This has created what economists call "A Worker's Market." What does that mean? It means higher wages, which in simple economics causes higher prices as well. It's the ying and yang of living in a consumer based economy.
What gives here though? Why is the rate double in Genesee County? This is the home of autoworkers, high tech jobs, and a leader in medicine and logistics in trucking and delivery. Many factors are involved and there is a rabbit hole of reasons that in this area our rate is double what it was in 2019.
The state of Michigan will spend 317 million dollars in 2022 alone. That's 317 million dollars that will pass through the state in roadwork alone. That's on roads only. This means fuels, equipment, equipment repairs, truck drivers, machine operators, and labor forces will split 317 million dollars and in theory, we will have better roads to drive on.
The cost of hiring all levels of workers causes the prices of everything to go up, so it's a constant carrot and stick of financial resources. Then it's "I" word. No one wants to hear the I word, it makes pundits nervous. It then makes "the markets nervous"- how does an inanimate object like "market" get nervous. May I recommend you stream this?
So, the economy is a gerbil on a wheel, and pundits and economists agree, that skilled trade jobs will be the only way to stay ahead of inflation - they used to say "in the future." Clearly, the future is here. Many people are hiring and many people want to work, but staying ahead is going to require more skills.
When only 3% of a workforce of about 320 million people are not working, the issue is not "Nobody wants to work."