Radiance3

What causes stagflation? Stagflation is determined by examining certain data for an extended period of time. like rising inflation, and rising unemployment.

What causes rising unemployment?
Joe Biden generous stimulus to people who prefer to receive the pension than work.
People who are mandated to stay home due to Covid19., or lack of vaccine.

Federal Reserve: Businesses Say Vaccine Mandates Are Hurting Employment

Preparing for a Stagflation Storm
Nearly 1,900 Washington State Employees Quit

The Federal Reserve Board Building on Constitution Avenue in Washington on March 27, 2019. (Brendan
Federal Reserve: Businesses Say Vaccine Mandates Are Hurting Employment.

BY JACK PHILLIPS October 21, 2021 Updated: October 21, 2021

The Federal Reserve on Thursday said that businesses have reported COVID-19 vaccine mandates have hurt employment and are contributing to labor supply problems, even before President Joe Biden’s previously announced vaccine mandate for private businesses goes into effect.

While employment increased at a modest to moderate rate in recent weeks, the Fed’s so-called Beige Book noted that the U.S. economy has been “dampened by a low supply of workers,” partially due to vaccine mandates.

“Transportation and technology firms saw particularly low labor supply, while many retail, hospitality, and manufacturing firms cut hours or production because they did not have enough workers,” its report summary said. “Firms reported high turnover, as workers left for other jobs or retired. Child-care issues and vaccine mandates were widely cited as contributing to the problem, along with COVID-related absences.”

Boeing employees and others wave to passing traffic in the rain as they protest the company’s COVID-19 vaccine mandate, outside the Boeing facility in Everett, Wash., on Oct. 15, 2021. (Lindsey Wasson/Reuters)

Individual Fed banks said they have heard of employees quitting over mandates. While the Federal Reserve Bank of Philadelphia reported that few businesses lost employees over the mandates, the Federal Reserve Bank of Atlanta reported that companies were worried that implementing a vaccine requirement could cost them workers.

“Most employers shared that they would like to implement COVID-19 vaccine mandates but were concerned about losing employees,” the Atlanta Fed said in the report. “Worries about employee mental health, burnout, safety, and vaccine mandates impacting company culture were mentioned.”

Some manufacturing businesses reported a “higher labor turnover that some attributed to the lagged effects of the pandemic” but some said the quits were “in response to vaccine mandates,” the Boston Fed also said in its report.

“A few employers expressed concern that federally mandated COVID regulations, such as vaccine requirements, could exacerbate their workforce challenges,” the Richmond Fed also said. “Average wages increased moderately as firms offered higher starting pay and increased wages to recruit and retain staff. Many also continued to provide sign-on and stay-on bonuses.”

Some 4.3 million workers quit their jobs in August, according to the most updated data from the Labor Department. That figure represents an all-time high since recordkeeping began in December 2000.

On Sept. 9, Biden announced that private businesses with 100 or more employees would have to either mandate vaccinations or have workers submit to weekly COVID-19 testing, as well as mandates for federal contractors, federal workers, and healthcare staff who are employed at Medicaid- or Medicare-funded facilities.

As a result several large corporations, including most major airlines and healthcare companies, began to implement vaccine requirements in recent weeks.

Although Biden made the announcement in early September that he will direct the Occupational Safety and Health Administration to come up with an emergency rule on COVID-19 vaccines, the agency submitted its mandate for private employers on Oct. 12. So far, the White House has not provided a clear timeline on when the rule could be implemented or what penalties businesses could face.

BBZ Loc: Long Island, NY

Some people quit their jobs because of covid vaccine mandate, but most quit because of lousy pay and benefits.

Radiance3

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I think most companies now had raised pays and benefits. But that does not help because of the high cost of inflation.

I learned today on TV, that a gallon of gas is $7.59 for regular, and for premium is $8.50. We never had this price before. This is too high. If the person commutes everyday to work, that hurts. If the person drives for a living, all of these will hurt all of us. Delivery of merchandise from the source to the different businesses of states and cities. Cost of gas will be enormously high. This costs are added to the price of the goods placed on the shelves for sale. Materials, labor. and overhead makes up the products for sale. And ends up very costly. I wonder what could happen to the shipping containers that nobody could haul the products. The shipping container have been there in the LA ports for weeks.

This is the worst economic times of our lives and it is just starting to hurt. In the long run, it will be very tragic.

Joe Biden is dumb. Kamala does not know what she is doing. She is useless.

woodguru

[quote=Radiance3]==================
[i] I think most companies now had raised pays and benefits. But that does not help because of the high cost of inflation.

I learned today on TV, that a gallon of gas is $7.59 for regular, and for premium is $8.50.
[/quote]
One extreme place does not an overall trend make.

Employers that are not paying more and expanding benefits are having a tough time finding people.

Radiance3

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Then when they hire and raise employees' wages, along with benefits. what happened to the employer? They will raise prices of their products or services to keep it going. Otherwise they go bankrupt. So, further inflation keeps on rising. Great job dumbbell Joe. You and kamala do not know what you are doing.

zombinis

One sided view.
Example two businesses one has increased the pay so they get more workers and service is better compared to the other. One company will close thats right. The other side the company that is still open the workers can go out and spend the extra money because they can go to dinner , a movie and school without having to get help from a loan. Then that person can get a better job. Leaving the present job open for another. Captalism is based on making a profit the business has to ensure that they can mantain a balance of employees , services and payment of the cost for running the business.
If you want to open a business you have to take into account the area. Is your business needed? The area can it support another business like yours?
Example a while back walgreens is a drug store it wanted to have a store on every corner. They did managed it but as soon as the different stores were compared some had to close for various reasons. 1st reason one store service was crap compared to another. 2nd the area was prone to shoplifting because of the average lower pay of the neighborhood. If a neighborhood can't support five businesses then one or several will close. It was not based on the pay it was based the number of customers.