WASHINGTON—New data released Tuesday showed that U.S. employers remain unable to fill a continued record-high number of jobs, while the number of Americans quitting their jobs increased. Rachel Greszler, research fellow in economics, budget and entitlements at The Heritage Foundation, released the following statement Tuesday in response to these new numbers:
“With 11.3 million unfilled job openings—more than twice the historical average—there are now a record-high 1.8 jobs available for every unemployed worker. The failure of roughly 3 million workers to return to the labor force is a drag on our nation’s economy that has contributed to the 40-year-high inflation we’re experiencing.
“Employers have been pressed to raise compensation to attract employees. Yet, despite those compensation increases, workers’ paychecks are buying less at the gas station and grocery store by the day.
“The Biden administration’s welfare-without-work policies are the primary culprit for these consistently bad numbers. These policies have diminished the value and need for Americans to work. If President Biden wanted to stop rising inflation rates, he would stop pushing trillions in new federal spending, and call for reforms to our welfare system that incentivize able-bodied Americans to work. Instead, his new budget proposal shows he will do anything but—and working Americans will continue to literally pay the price.”
Learn more about this issue in Greszler’s latest commentary: Why Has Employment Been So Slow to Recover?