David Brancaccio, Alex Colvin, Heidi Shierholz discussed on 90.3 KAZU Programming

Automatic TRANSCRIPT

Los Angeles. I'm kind of result it is Thursday. Today, the six the maggot is always to have you along, everybody we begin today. With a little cognitive economic dissonance. News item number one The regular Thursday report on first time claims for unemployment benefits. Last week For the first time in 14 months, those claims fell below a half a million people still historically high but way better on trend. Who's at number two. The regular report on monthly unemployment We're going to get tomorrow could be could be seven figures worth of new jobs. Who's Adam three, and this one is straight up reporting that we have done even though fewer people are getting laid off and more people are finding jobs. We still have companies and trade groups shouting loudly and persistently, it must be said. But they just can't find people. The higher They're a bunch of reasons. Of course, People who lost or left jobs might be worried about getting sick. If they go back. There are schools that some people have started. Also, of course, kids and no child care. We asked marketplace Mitchell Hartmann. What else might be going on now? About that loud in persistent complaining that employers can't hire the workers they need. Don't just take our word for it. We simply can't source enough talent to meet current demand. Richard Wall Quest is CEO of the American Staffing Association, which represents employment and temp agencies. We don't expect that that's going to abate in the near future, and it's across many, many different occupations won't twist says A lot of potential workers aren't ready to get a new job yet. Maybe they're not vaccinated or have kids stuck at home, he says. Many older skilled workers may not be coming back baby boomers who are nearing retirement or working, perhaps beyond traditional retirement. Many of them have left the workforce altogether. And so companies are recruiting loudly and persistently everywhere you drive, you see Help Wanted signs. Michael Britain runs Kentucky Anna Works the Workforce Development Board for the Louisville region. Our career centers are hosting job fairs. Companies are offering signing bonuses, but Britain doesn't see this is a classic labor shortage. It's more a matter of time. The return of workers is going to be gradual, so there's a mismatch between what employers want and the speed with which people are going to come back to the labor market. There's another mismatch, says Heidi Shierholz at the Progressive Economic Policy Institute between the pay employers are offering and the pay workers are willing to take If an employer post the job, and then they can't find the workers that they need. That just means there's a labor shortage of people who will work at that wage In a really tight labor market, As Fed chair Jay Powell has recently pointed out, wages would be rising. I'm Mitchell Hartman for Marketplace. We gave this one, a nod yesterday that the Biden administration now supports waving patent protections on covert vaccines in service As trade representative Catherine Ty put it. Of ending this pandemic. Just lifting intellectual property protections can't buy itself get more shots in more arms market places him at the fields looked into that one. One of the arguments against waving patents on the vaccines is that patent protections are not the on Lee thing or even the main thing standing in the way of other countries churning out more vaccine. The waiver is the first step Lot of the sender is a professor at Georgetown University Law Center, she says. In addition, we need these companies to share with manufacturers around the world. How to make these vaccines safely and effectively. Just reading the patent isn't going to teach them. But the prospect of a waiver, which pharmaceutical companies oppose could be enough of a bargaining chip to get them to volunteer that information, says Nicholson Price at the University of Michigan Law School. I could imagine the wheels be increased a little bit. If this is something that's on the table now that I think the pharmaceutical industry pretty reasonably thought was effectively off the table until pretty recently and if not, the U. S government does have other leverage to push companies to share their know how Such as the fact that it has a patent that Madonna and others are using in their vaccines, says James Carlin Steen at the advocacy organization Prepped for All the U. S government right now could basically say, Hey, you're using our technology. As a condition of this, you have to transfer the technology of even if all of that gets worked out. There's also the question of are there even enough factories in the world ready and able to make these vaccines? Right now, Kremlin, Steen says there aren't but we know we can build new factories extraordinarily rapidly. There was not a single factory in the world in February of 2020. I could make a Mornay vaccines a commercial scale. We built those factories and crown Steen says. Now it's time to build more. I'm Samantha Fields for marketplace on Wall Street today, up all the way around, will have the details when we do the numbers. Thinking we're about getting to that point when companies are gonna have to start getting specific with their people about what their futures are gonna look like. Be in the office. It's gonna be fully remote. Maybe somewhere in between. The CEO of Google and its parent company, Alphabet soon or pitch. I said something in an email yesterday that stuck out to us the future of work, which I said His flexibility. Remote hybrid Googlers get to decide Apparently Work flexibility sounds great, but honestly, it kind of does apply only to certain jobs and certain industries. So we asked Marketplaces and the Euler to get on the phone with some labor economists. You see what they figure the future work might be If you ask about the labor experts what the future of work's gonna look like most reluctant to commit a future work is uncertain. I would say the future of work is in flux. The future of work is not predetermined. Those vagaries came from Carl Van Horne at Rutgers, Salix Colvin at Cornell and Jesse Hammer. Leggett, California, Berkeley, and they did elaborate. Let's start with Van Horn. Uncertainty has to do with not only people's behavior but also employers. That's uncertainty about vaccine rules at the office or whether working from home is an employee benefit. Alex Colvin, a Cornell says the word flexibility is just the right amount of vague for a company like Google with about 140,000 workers does flexibility me. We can get rid of labor costs only need two employees on more disposable or does flexibility mean flexibility? What we're doing? It work how we do the work. Both as a flexibility, but they didn't mean very different things to workers. And Jesse Hammer. Ling, who studies the future of work at UC Berkeley, says those who have to do their jobs in person at restaurants, hospitals, grocery stores usually make less than people who can work from home and cove. It only brought more attention to this inequality in the labor market. It's really important that workers have a voice and have power in shaping what the future of work will be. If we want to get ourselves off our current path that leads toward Marlowe paid low road jobs, she says. After the pan Emmick worker. Complaints about their jobs aren't something about low wages but about job quality as well. I made the Euler for marketplace. You know who's still working at home? David Brancaccio and the.

Coming up next