It looks like we are turning the tide on the pandemic. Vaccination rates are climbing in this country. We are first for first doses in developed nations of the world. Second doses are starting to catch up.
This is fantastic news. Great job everyone. Restrictions are starting to lift, and we are seeing signs of the economy reopening. However, this doesn’t mean we are going back to the way things were prior to March 2020.
Restaurants are reporting having issues with staff returning to work. After a year people have started to move on. Reevaluating career options, and life goals. This is huge for the economy. What happens with people would rather better their lives than work for minimum wage?
Prior to the pandemic, employment was considered a bit of a free for all. The expectation that you should just take whatever job is offered and be grateful for it. If that is changing, then employers will need to reevaluate what they are offering.
The dynamic is flipping. Rather than potential employees fighting amongst themselves for lower paying jobs, you could have employers fighting for employees by offering competitive wages and salaries. This dynamic shift will have many consequences. The need for automation to fill low wage and low skill jobs will take off. As that happens, the requirement for stronger social programs to help cushion the displacement in the form of UBI will hold more weight.
This pandemic is looking more and more like it is a formative period in our global history. One of those few points in time where there will be a clear before and after. It is inevitable. Our leadership just needs to start planning for it.