Re:Federal Reserve to increase interest rates by 75 basis po...
by adrr on Wednesday July 27, 2022 @02:39PM
(#32254658)
There is a labor shortage not caused by covid but due to significant portion of the population retiring. We're missing 2 million workers from 2019. Biggest issue is that raising rates actually exacerbates the issue due to increased expense in investing in automation. From a society standpoint and an economic standpoint, people shouldn't be manually picking and packing things in a warehouse when we have automation that can drastically improve this. Businesses are to blame because labor was so cheap that they never invested in automation.
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