3 Stocks That Are Immune to Labor Shortages
Labor shortages are spreading across the economy. Mostly, they are concentrated in fields with low pay and the need to work in person. Interestingly, the U.S. Bureau of Labor Statistics reported 8.7 million unemployed persons in July, up significantly from 5.7 million in February 2020 (the month before the pandemic).
So it's confusing to simultaneously observe labor shortages and higher-than-usual levels of unemployed. Blame it on the unprecedented circumstances caused by the spread of COVID-19. Some folks are hesitant to take jobs that require them to come into close contact with colleagues or customers. Add to that the generous unemployment benefits and ongoing fiscal stimulus measures, and folks are perhaps feeling less urgency to work. On top of all that, many kids have been learning from home, requiring at least one parent to stay and care for them.
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Source Fool.com
