3 reasons the labor shortage could be a 'structural change' in the economy, according to S&P
between what Americans are looking for in jobs and those that are available — a mismatch that doesn't have a quick fix.
At the time, Yellen pointed out several reasons for the shortage, saying that an"abnormally low" supply of labor, including a shortage of childcare workers and teachers, creates problems with child care. She also said that people in public-facing jobs would likely have concerns about increased exposure to the coronavirus.
Skills mismatch has been an issue for several years in the labor force, S&P argues. That problem only worsened during the pandemic, with older workers retiring earlier than they intended due to virus fears.
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