Help Wanted: Too Many Jobs and Not Enough Workers

“Signs, signs, everywhere a sign” sang the 70’s Canadian rock group Five Man Electrical Band. The sign that is everywhere now is “Help Wanted”! The latest data from the Bureau of Labor Statistics shows there are over 100 million Americans who are currently out of the labor force. But of that group, just 6.85 million people are currently looking for a job. Why are less than 7% of available workers looking for a job?

Interviews reveal the prevailing attitude: it pays darn well to not work! The trillions of dollars in government stimulus are now incentivizing potential workers not to seek gainful employment, but to sit back and collect the next “stimmy check” for not working. The chart below, from Bank of America’s Global Research department, plots the National Federation of Independent Business (NFIB) “Hard to Fill” job openings category. As can be seen, the current level of 40 is the highest in the history of the index.

Best regards,

Womack Investment Advisers, Inc.

WOMACK INVESTMENT ADVISERS, INC.
Oklahoma / Main Office: 1366 E. 15th Street - Edmond, OK 73013
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Website: www.womackadvisers.com

Womack Investment Advisers, Inc. (WIA) is a registered investment adviser whose principal office is located in Oklahoma. Womack Investment Advisers, Inc. is also registered in the State of California, the State of Illinois, the State of Indiana, and the State of Texas. WIA only transacts business in sates where it is properly registered, or excluded, or exempted from registration requirements.

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