The U.S. Chamber of Commerce characterized the worker shortage as a crisis that is hurting businesses of all sizes and slowing the nation’s economic recovery.
The biggest challenge U.S. businesses currently face is the lack of qualified workers to fill open jobs, according to the Chamber of Commerce’s America Works Report released Tuesday morning. The national Worker Availability Ratio (WAR) — or ratio of number of available workers to number of available jobs — has dropped over the last several months, the report found.
The current WAR is 1.4, meaning for every job opening there are one or two workers available, according to the America Works Report. The historical WAR average over the last 20 years is 2.8. Read More
McDonald’s plans to hire more than a quarter of a million people over the course of the summer as economic lockdowns continue to slow down, the company announced Thursday.
The restaurant chain will add 260,000 employees as it reopens dining rooms after shutting down amid lockdowns designed to slow the spread of the coronavirus, or COVID-19, according to the president of the company. Read More
Even as a handful of states have made tentative steps back to normalcy in recent days, new jobless claims continue to flood in across all 50 states, driving the number of unemployment claims to 33.5 million over the past seven weeks.
According to data released Thursday morning by the U.S. Department of Labor, 3.17 million Americans filed for new unemployment benefits for the week ending May 2. That was down 677,000 from the previous week’s revised level of 3.85 million but still well above the numbers seen before the coronavirus outbreak led to the shutdown of most of the national economy. Read More
About half of the millions of U.S. workers laid off by the coronavirus pandemic could end up earning more out of work than when they had a job, new analyses of jobless benefits show. Read More