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- Mar 21, 2016
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Yeah, that's right you read that correctly. Obviously, the War in Ukraine is the single biggest driver of most of these problems. And obviously, some of our supply chain problems are caused by a continued covid recovery in other countries that is largely out of our control.
But another huge part of the inflation situation is that we currently have record low unemployment levels. My home state of MN currently has the lowest unemployment rate of any state in the history of this country. Not only that, but labor force participation rates are incredibly strong. Every bit as good as they were pre-pandemic if not better. These are both very very good things, but unfortunately, they do have negative side effects. With so many jobs available and nobody to do them businesses are having to pay much higher wages, which can intern lead to higher prices for goods. Furthermore, the inability to produce enough to fill the demand is driving things even higher.
The problem here is that we have too much work, and not enough workers to do it all. Is that Joe Biden's fault? Nope. It's Republican's fault. We literally have millions of people waiting on our border who would love nothing more than to come to America and do these jobs for us. It's Republicans trying to block their entry, not Joe Biden.
Meat processing, fruit picking, vegetable harvesting, home construction, forklift driving, port work... These are all industries that rely very heavily on migrant labor and they are all industries struggling to keep up with the amount of work available.
We should have an immigration system that can adjust fluidly with the demand for work. If there are U.S. companies that are struggling to find American workers when unemployment is low they should be able to apply and quickly get migrant workers approved to help them out. If the economy drops off, they can be the first to be laid off and sent home if nobody here needs them.
The only thing standing in the way of having such a system is the Republican Party, and it would be the quickest and best way to fight inflation.
But another huge part of the inflation situation is that we currently have record low unemployment levels. My home state of MN currently has the lowest unemployment rate of any state in the history of this country. Not only that, but labor force participation rates are incredibly strong. Every bit as good as they were pre-pandemic if not better. These are both very very good things, but unfortunately, they do have negative side effects. With so many jobs available and nobody to do them businesses are having to pay much higher wages, which can intern lead to higher prices for goods. Furthermore, the inability to produce enough to fill the demand is driving things even higher.
The problem here is that we have too much work, and not enough workers to do it all. Is that Joe Biden's fault? Nope. It's Republican's fault. We literally have millions of people waiting on our border who would love nothing more than to come to America and do these jobs for us. It's Republicans trying to block their entry, not Joe Biden.
Meat processing, fruit picking, vegetable harvesting, home construction, forklift driving, port work... These are all industries that rely very heavily on migrant labor and they are all industries struggling to keep up with the amount of work available.
We should have an immigration system that can adjust fluidly with the demand for work. If there are U.S. companies that are struggling to find American workers when unemployment is low they should be able to apply and quickly get migrant workers approved to help them out. If the economy drops off, they can be the first to be laid off and sent home if nobody here needs them.
The only thing standing in the way of having such a system is the Republican Party, and it would be the quickest and best way to fight inflation.