Chamber Of Commerce Says US Is in “National Economic Crisis”

(ReliableNews.org) – After more than a year of harsh restrictions, the nation is finally reopening its economy. The devastation left in the wake of the COVID-19 pandemic will take time to reverse.

The US Chamber of Commerce released its America Works Report on June 1. The report discussed the nation’s current “workforce crisis.” The Chamber described America’s labor shortage as a “national economic crisis” that is “worsening.”

The Chamber analyzed more than 20 years of employment data and surveyed top industry economists to compile its report. Its key findings include:

  • Vacant job openings in the US hit a record high in March 2021 with 8.1 million vacancies. That figure represents a rise of more than 600,000 from February.
  • Several industries like education and healthcare have fewer available workers than open jobs in several states.
  • The nation currently has half the number of available workers for every open job it had on average the last two decades.
  • State and local-level chambers of commerce report that the lack of enough available workers is holding back their communities’ economic growth.

The Chamber concluded its report stating that if business and government can work together to solve the problem, the country can “once again” enjoy prosperity and “lead the world economy.”

Copyright 2021, ReliableNews.org