{"id":1187,"date":"2021-09-25T09:22:59","date_gmt":"2021-09-25T15:22:59","guid":{"rendered":"https:\/\/canopyadvisory.com\/?p=1187"},"modified":"2023-11-08T00:05:44","modified_gmt":"2023-11-08T07:05:44","slug":"why-are-people-out-of-work-but-businesses-cant-find-employees-part-1","status":"publish","type":"post","link":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/","title":{"rendered":"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1"},"content":{"rendered":"

It\u2019s no secret the job market is changing before our eyes seemingly with every passing day.\u00a0 \u201cWe\u2019re hiring\u201d signs abound, and we\u2019re asked to be patient as restaurants, businesses, and retail shops are consistently understaffed.\u00a0 Reports from the Bureau of Labor Statistics<\/a> show that the unemployment rate in August was 5.2%, which is up from the pre-pandemic rate of 3.5% in February of 2020.\u00a0 While the news is not all bad, the number of job openings at the end of July hit a record number<\/a> for the fifth consecutive month and unemployment has not rebounded as quickly as analysts hoped.\u00a0 What gives?<\/p>\n

The USA Today<\/em> paints the picture this way:\u00a0 The country has recovered 76% of the 22.4 million<\/a> jobs lost last spring as businesses closed to try to contain the spread of COVID-19, leaving payrolls 5.3 million jobs below their pre-pandemic level.<\/p>\n

There is a \u201cMusical Chairs\u201d of sorts happening.\u00a0 According to Fortune<\/em>, nearly two-thirds of U.S. workers<\/strong><\/a> are currently looking for a new job.\u00a0 Trying to match these workers with the available jobs is challenging, particularly with so many variables in the search.\u00a0 In some cases, employees who have spent months in a remote role are not ready to give up their newfound autonomy and are job searching instead of agreeing to report back to the office.\u00a0 And for many, the last eighteen months have been a time of reflection about how they want to spend their days and whether they are on the right career path.\u00a0 The New York Times has dubbed this the YOLO Economy<\/a>, for the acronym \u2013 You Only Live Once.\u00a0 Many higher income workers, buoyed by the savings accumulated from more than a year of largely skipping entertainment, travel and big purchases, while enjoying stock market gains, are ready to pursue \u201criskier\u201d passion projects instead of remaining in a job that feels stagnant.\u00a0 In short, they want a career that taps into their sweet spot.<\/p>\n

Research has shown people tend to re-evaluate their job and career choice after a major life event.\u00a0 During the pandemic, this reassessment has happened to a large number of us all at the same time.\u00a0 Some have decided this is the time to switch industries, go back to school, or retire early, in what market analysts have dubbed \u201cthe Great Resignation.\u201d\u00a0 LinkedIn reports<\/a> that 57% of its recorded job switches between May and July were from one industry to another.<\/p>\n

Some analysts tend to blame stimulus checks and unemployment payments for de-incentivizing workers to jump back into the labor force, and there may be some truth to this.\u00a0 However, others argue this is much too simplistic a view \u2013 and the reasons behind the labor shortage are both varied and complicated.\u00a0 For those forced to exit the job market to protect themselves or their family members from exposure to the virus or to care for kids suddenly at home, there are no easy answers.<\/p>\n

Economist Dante DeAntonio of Moody\u2019s Analytics expects the current labor shortage to take some time to resolve<\/a>, even with school re-openings and progress in vaccination numbers.\u00a0 \u201cThe labor shortages will start to abate in September and this fall, but it\u2019s not going to be an immediate fix. This could well play out over two, three years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s no secret the job market is changing before our eyes seemingly with every passing day.\u00a0 \u201cWe\u2019re hiring\u201d signs abound, and we\u2019re asked to be patient as restaurants, businesses, and retail shops are consistently understaffed.\u00a0 Reports from the Bureau of Labor Statistics show that the unemployment rate in August was 5.2%, which is up from […]<\/p>\n","protected":false},"author":2,"featured_media":2162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[375],"tags":[],"class_list":["post-1187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-post","topic-leadership"],"acf":[],"yoast_head":"\nWhy are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1 - Canopy Advisory Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1 - Canopy Advisory Group\" \/>\n<meta property=\"og:description\" content=\"It\u2019s no secret the job market is changing before our eyes seemingly with every passing day.\u00a0 \u201cWe\u2019re hiring\u201d signs abound, and we\u2019re asked to be patient as restaurants, businesses, and retail shops are consistently understaffed.\u00a0 Reports from the Bureau of Labor Statistics show that the unemployment rate in August was 5.2%, which is up from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\" \/>\n<meta property=\"og:site_name\" content=\"Canopy Advisory Group\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-25T15:22:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-08T07:05:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Canopy Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lrohm\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Canopy Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\"},\"author\":{\"name\":\"Canopy Team\",\"@id\":\"https:\/\/canopyadvisory.com\/#\/schema\/person\/b3b684385f8a292351867df55a46b014\"},\"headline\":\"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1\",\"datePublished\":\"2021-09-25T15:22:59+00:00\",\"dateModified\":\"2023-11-08T07:05:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\"},\"wordCount\":552,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/canopyadvisory.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg\",\"articleSection\":[\"Blog Post\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\",\"url\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\",\"name\":\"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1 - Canopy Advisory Group\",\"isPartOf\":{\"@id\":\"https:\/\/canopyadvisory.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg\",\"datePublished\":\"2021-09-25T15:22:59+00:00\",\"dateModified\":\"2023-11-08T07:05:44+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage\",\"url\":\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg\",\"contentUrl\":\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg\",\"width\":1280,\"height\":854},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/canopyadvisory.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/canopyadvisory.com\/#website\",\"url\":\"https:\/\/canopyadvisory.com\/\",\"name\":\"Canopy Advisory Group\",\"description\":\"High-level expertise for your next-level success\",\"publisher\":{\"@id\":\"https:\/\/canopyadvisory.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/canopyadvisory.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/canopyadvisory.com\/#organization\",\"name\":\"Canopy Advisory Group\",\"url\":\"https:\/\/canopyadvisory.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/canopyadvisory.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2020\/05\/logo-canopy-stacked.png\",\"contentUrl\":\"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2020\/05\/logo-canopy-stacked.png\",\"width\":306,\"height\":176,\"caption\":\"Canopy Advisory Group\"},\"image\":{\"@id\":\"https:\/\/canopyadvisory.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.linkedin.com\/company\/canopy-advisory-group\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/canopyadvisory.com\/#\/schema\/person\/b3b684385f8a292351867df55a46b014\",\"name\":\"Canopy Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/canopyadvisory.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/953c48c7749672ba07d949d482d6c9a3d5bf4e39fed107b542ab2a6da723ef5b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/953c48c7749672ba07d949d482d6c9a3d5bf4e39fed107b542ab2a6da723ef5b?s=96&d=mm&r=g\",\"caption\":\"Canopy Team\"},\"sameAs\":[\"http:\/\/canopyadvisory.com\",\"https:\/\/x.com\/lrohm\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1 - Canopy Advisory Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/","og_locale":"en_US","og_type":"article","og_title":"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1 - Canopy Advisory Group","og_description":"It\u2019s no secret the job market is changing before our eyes seemingly with every passing day.\u00a0 \u201cWe\u2019re hiring\u201d signs abound, and we\u2019re asked to be patient as restaurants, businesses, and retail shops are consistently understaffed.\u00a0 Reports from the Bureau of Labor Statistics show that the unemployment rate in August was 5.2%, which is up from […]","og_url":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/","og_site_name":"Canopy Advisory Group","article_published_time":"2021-09-25T15:22:59+00:00","article_modified_time":"2023-11-08T07:05:44+00:00","og_image":[{"width":1280,"height":854,"url":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg","type":"image\/jpeg"}],"author":"Canopy Team","twitter_card":"summary_large_image","twitter_creator":"@lrohm","twitter_misc":{"Written by":"Canopy Team","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#article","isPartOf":{"@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/"},"author":{"name":"Canopy Team","@id":"https:\/\/canopyadvisory.com\/#\/schema\/person\/b3b684385f8a292351867df55a46b014"},"headline":"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1","datePublished":"2021-09-25T15:22:59+00:00","dateModified":"2023-11-08T07:05:44+00:00","mainEntityOfPage":{"@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/"},"wordCount":552,"commentCount":0,"publisher":{"@id":"https:\/\/canopyadvisory.com\/#organization"},"image":{"@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage"},"thumbnailUrl":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg","articleSection":["Blog Post"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/","url":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/","name":"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1 - Canopy Advisory Group","isPartOf":{"@id":"https:\/\/canopyadvisory.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage"},"image":{"@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage"},"thumbnailUrl":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg","datePublished":"2021-09-25T15:22:59+00:00","dateModified":"2023-11-08T07:05:44+00:00","breadcrumb":{"@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#primaryimage","url":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg","contentUrl":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2021\/09\/pexels-fauxels-3182773.jpg","width":1280,"height":854},{"@type":"BreadcrumbList","@id":"https:\/\/canopyadvisory.com\/why-are-people-out-of-work-but-businesses-cant-find-employees-part-1\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/canopyadvisory.com\/"},{"@type":"ListItem","position":2,"name":"Why are People Out of Work, but Businesses Can\u2019t Find Employees: Part 1"}]},{"@type":"WebSite","@id":"https:\/\/canopyadvisory.com\/#website","url":"https:\/\/canopyadvisory.com\/","name":"Canopy Advisory Group","description":"High-level expertise for your next-level success","publisher":{"@id":"https:\/\/canopyadvisory.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/canopyadvisory.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/canopyadvisory.com\/#organization","name":"Canopy Advisory Group","url":"https:\/\/canopyadvisory.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/canopyadvisory.com\/#\/schema\/logo\/image\/","url":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2020\/05\/logo-canopy-stacked.png","contentUrl":"https:\/\/canopyadvisory.com\/wp-content\/uploads\/2020\/05\/logo-canopy-stacked.png","width":306,"height":176,"caption":"Canopy Advisory Group"},"image":{"@id":"https:\/\/canopyadvisory.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/canopy-advisory-group"]},{"@type":"Person","@id":"https:\/\/canopyadvisory.com\/#\/schema\/person\/b3b684385f8a292351867df55a46b014","name":"Canopy Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/canopyadvisory.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/953c48c7749672ba07d949d482d6c9a3d5bf4e39fed107b542ab2a6da723ef5b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/953c48c7749672ba07d949d482d6c9a3d5bf4e39fed107b542ab2a6da723ef5b?s=96&d=mm&r=g","caption":"Canopy Team"},"sameAs":["http:\/\/canopyadvisory.com","https:\/\/x.com\/lrohm"]}]}},"_links":{"self":[{"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/posts\/1187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/comments?post=1187"}],"version-history":[{"count":0,"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/posts\/1187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/media\/2162"}],"wp:attachment":[{"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/media?parent=1187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/categories?post=1187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canopyadvisory.com\/wp-json\/wp\/v2\/tags?post=1187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}