Due to the antiquated legal immigration system in the U.S., America is rapidly approaching a healthcare worker crisis with life or death consequences.
, released last week, showed there were 10.4 million job openings in August whereas the number of people leaving their jobs rose to 4.3 million, the highest level seen on records dating back to Dec. 2000.
This disrupts both local and global production and supply networks, hampering economic growth and causing product and service shortages for consumers.Experts are assessing the potential impact that the worker shortages could have on economies in the U.S., U.K. and euro zone. They also stress that while the pandemic has accentuated and underscored labor shortages, the roots to these problems are pre-pandemic.
"There are more than ten million job vacancies right now spread across all sectors with a record proportion of companies raising pay to try to attract staff. Instead, it is a problem with the supply of workers, which is both holding back output and increasing inflation pressures in the economy." Principal Nathan Hay checks the temperatures of students as they return to school on the first day of in-person classes in Orange County at Baldwin Park Elementary School on August 21, 2020 in Orlando, Florida, US. Face masks and temperature checks are required for all students as Florida's death toll from COVID-19 now exceeds 10,000, with some teachers refusing to return to their classrooms due to health concerns.
and reports of wage increases to attract workers to key industries like hospitality. In the meantime, there are widespread concerns over the rising costs of goods, services and food ahead of Christmas.Bloomberg | Bloomberg | Getty Images
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