Mitch McConnell Predicts an End to the Labor Shortage

Mitch McConnell Predicts an End to the Labor Shortage

Top Republican Issues Stern Warning With a Silver Lining

( – From 2002 to 2017, the labor force participation rate continued to plummet year over year. Improvements appeared to be on their way under former President Donald Trump, only for numbers to start dropping again in early 2020. While Democrats try to make the case that unemployment has improved, labor force participation is actually at a 40-year low.

On Tuesday, July 5, Senate Minority Leader Mitch McConnell explained why businesses are struggling to find workers. McConnell said workers are hard to come by because they don’t need to work; they are still flush with the stimulus cash the government provided them during the pandemic. The Minority Leader said until people begin running out of stimulus savings, many likely wouldn’t return to the workforce.

While many Americans aren’t working, they’re also not collecting unemployment benefits, as reflected in the labor force participation rate. The Bureau of Labor Statistics can’t answer why people aren’t working. It simply notes that it’s occurring. Yet, McConnell believes the stimulus money helps explain why so many businesses are struggling to find employees.

From March 2020 through the end of 2021, Moody Analytics estimated that Americans racked up a savings cushion of $2.6 trillion from government COVID-19 stimulus programs. In February 2021, Democrats passed the American Rescue Act without a single GOP vote. Republicans argued that the extra stimulus program wasn’t needed and would contribute to inflation.

Do you agree with McConnell’s assessment? Are would-be workers coasting on the roughly $3,200 per taxpayer they received from stimulus payments?

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