Worker shortage: many start new businesses
With American workers quitting at record rates, the country has a labor mismatch and far more job openings than the number of unemployed people. However, a new analysis shows that the one reason for the job crunch comes down to entrepreneurship. According to an analysis of Census data by Economic Innovation Group (EIG), through September, a record number of 1.4 million Americans filed applications to start new businesses. Most of these startups are in the fields of manufacturing or retail- sectors that are likely to create jobs versus freelancers who typically work independently.
Kenan Fikri, director of EIG says that the growing number of businesses is a good sign for the economy despite the constrained labor market. He added that a lot of these entrepreneurs are targeting opportunities opened by the pandemic, such as "ghost kitchens" that prepare meals only for takeout or delivery only. "Part of this Great Resignation was also Americans deciding that they didn't want to work for anybody — they wanted to work for themselves. That's just exacerbating the pinch that employers are feeling", Fikri told CBS MoneyWatch.
Source: CBS News
Kenan Fikri, director of EIG says that the growing number of businesses is a good sign for the economy despite the constrained labor market. He added that a lot of these entrepreneurs are targeting opportunities opened by the pandemic, such as "ghost kitchens" that prepare meals only for takeout or delivery only. "Part of this Great Resignation was also Americans deciding that they didn't want to work for anybody — they wanted to work for themselves. That's just exacerbating the pinch that employers are feeling", Fikri told CBS MoneyWatch.
Source: CBS News
Category
Change Management
Closing
Inclusion, Equity & Diversity
Mentoring & Coaching
Leave Management
Discrimination
Hiring & Firing
Wellness Benefits
Policies & Practices
Unemployment Benefits
Learning & Development
Dependent Benefits
Emergency Response
Benefits Compliance
Employee Resource Groups
Employment Law & Compliance
Leadership &
Social Media
Eligibility Verification (I-9)
Contemporary Issues
Health Savings Accounts
Overtime Eligibility &
Business Acumen
Religious Accomodations
Gender Identity
Work Life Integration
Health Care Benefits
Cybersecurity
Organization & Employee Development
HR Software
Pay Equity
HR Careers
Opening
Employee Handbooks
Employee Data Privacy
Job Applications &
Employment Contracts
Succession Planning
Contracts & RFPs
Labor Relations
Raise
Payroll
People Management
Disability Accomodations
Employment Offers
Career Development
Paid Leave
Global Mindset
Organizational Structure
Analytical Aptitude
Tags
Article
The Future of Gig Employment
There’s no denying that the gig economy has seen much growth since the last recession. With the spr ...
Return to Office: Tips to cope with Change
The past two years have been a roller coaster ride, we’ve all acclimatized ourselves with the work ...
Are 4 day work weeks the future?
Robert Owen, a Welsh textile mill owner, social reformer, and labor activist came up with a slogan ...
Millennials Care About These 8 Things at Their Workplace - Are Your Offering Those?
Millennials are considered to be social people, who live by the ‘work hard play hard’ mantra and ar ...
Comments