The inflation of 2021/2022 is undoubtably the result of key Republican policy failures specific to the workforce and oil pricing. These two Republican pressures behind the worldwide supply availability are the three direct causes of inflation. Mic drop.
1. Labor shortage - 3.5M deficit in workers
Irrefutable Data:
Their exit is causing a ripple effect. Between early retirees, “a surge in deaths,” and a decline in immigration, the American labor force is missing about 3.5 million people, Fed chair Jerome Powell said in late November. The excess retirements in particular “might now account for more than 2 million of the 3 ½ million shortfall in the labor force,” he said. Experts worry the shortfall could make it harder to tame inflation.
Oil rigs in use at the end of January:
1. Labor shortage - 3.5M deficit in workers
- Declining immigration
- Covid deaths
- Early retirees due to safety
- Oil rig shut downs during Trump - over 600
- Negotiated reduction in OPEC - over 2M B/D
- This is not the pubs fault as it’s affected every country.
Irrefutable Data:
Baby boomers still quitting in droves, not taking new jobs | Fortune
During the Great Recession, workforce participation among the 55-and-older cohort grew 1%. The past three years have seen a 1.9% decline among boomers.
fortune.com
Their exit is causing a ripple effect. Between early retirees, “a surge in deaths,” and a decline in immigration, the American labor force is missing about 3.5 million people, Fed chair Jerome Powell said in late November. The excess retirements in particular “might now account for more than 2 million of the 3 ½ million shortfall in the labor force,” he said. Experts worry the shortfall could make it harder to tame inflation.
Oil rigs in use at the end of January:
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