Understanding Full Employment and Labor Market Dynamics

Does an aging workforce mean greater worker power?

One of the takeaways from pro-worker advocates during the pandemic financial crisis was that employees saw fantastic gain. As demand for workers skyrocketed, employees got to be choosy. What bosses called “The Great Resignation” was actually workers having the power to demand better wages and working conditions, as well as the willingness to quit jobs that wouldn’t offer those things.

But economist Adam Ozimek warns that people may be taking the wrong lesson about tight labor markets, and that the coming labor shortage isn’t cause for celebration—but concern.

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