The “free money” stuff ended more than a year ago.
This is a demographic cliff. It was coming, but lots of people ignored it. COVID may have accelerated it a bit, but it’s been coming for years.
Labor participation is decent. Unemployment is virtually non existent (for now) and the economy is still moving. In six months that will likely change. But for now…we simply don’t have the working bodies.
I told my Gen Y kid at least two decades ago he lived in a charmed demographic because their numbers would not be able to replace the disappearing boomers. Individuals may have trouble but the group would not.
The biggest problem though for that group is a white, straight. conservative male. I would not have a Chinaman’s chance in getting a job today even without the age consideration and I am a very well experienced and qualified engineer. Even if I do say so myself.
We do not have enough trained, sober, clean working bodies and the illegals don’t help that.
“…we simply don’t have the working bodies.”
Where’d they go? Are there more jobs now than before COVID?
There aren’t more businesses... at least not in my town.