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The July jobs report should finally put to rest the idea that there’s a labor shortage, a former Obama administration economist told Insider.
Heidi Shierholz, who is currently the director of policy at the left-leaning Economic Policy Institute, said the employment and wages figures unveiled in Friday’s data show that reports of a labor shortage still aren’t right. Or, she said, it’s not a labor shortage we should be worried about.
“A concerning labor shortage would be very tight, strong wage growth that is not accompanied by strong job growth. That’s a bona fide labor shortage,” details ⇒
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