When People Don't Want To Work
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On today\\u2019s show we\\u2019re talking about how the current labor shortage is affecting the world of employment, and therefore by extension the world of real estate.
\\nWe\\u2019re still in the middle of a pandemic. But despite the historically low unemployment rate, we have a labor participation rate of 61,8% that is is down sharply from pre-pandemic levels.
\\nIf you go back to the 1960\\u2019s we had labor participation rates below 60%. But at that time, many women were not in the workforce and stayed at home as homemakers. Labor participation peaked around 2000 \\u2013 2001 at 67%. Participation has fallen over the past 20 years to about 63.5%, and before plunging below 60% in the height of the pandemic.
\\nThe people who are no longer in the workforce still need income to live, and a place to call home.
\\nYou\\u2019ve seen the help wanted signs all over. You see the recruiting signs at big box stores, restaurants, grocery stores, retail shops. The signs are everywhere.
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\\nHost: Victor Menasce
\\nemail: podcast@victorjm.com
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