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Stevenson on why the economy is waiting for workers

October 20, 2021

As the economy recovers, workers are holding out for better compensation and benefits. 

“It’s like the whole country is in some kind of union renegotiation,” Betsey Stevenson told the New York Times. “I don’t know who’s going to win in this bargaining that’s going on right now, but right now it seems like workers have the upper hand.”

Stevenson further explained the labor shortage on WHYY Radio Times.

"(Workers) kept working through the pandemic, despite it being risky and a job that became way less pleasant. But they too were fearful of what if I can’t find another job? What if I can’t put food on my family’s table?" she said. "We’re past that point — I think a lot of them said 'Okay, I’m comfortable enough now. The government provided a lot of help.' They’ve built that cushion up, and then they’re looking out there and saying 'wow, there’s a record number of job openings. It’s never been a better time to find a better job.' And what we know is wage changes come when you change employers."

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