Short Episode - How Are Labor Shortages Impacting the Economy?

Small businesses are feeling the impacts of the labor shortages. Two forces are causing the labor shortages; technological advancements and unemployment insurance.

Why would you work at a fast-food restaurant or small business for $15 an hour when you could start a youtube channel. Digital technology and social media have created an entirely new digital marketplace that favors content creators. Why sling burgers when you could talk about your passion and make money. The reach of the digital realm is endless.

The unemployment insurance has dangled a carrot in front of the employment marketplace. Why sweat and toil in a small business when you could sit at home, receiving stimulus payments, while you enjoy Netflix in the comfort of your home. It's the real go-getters that will forgo Netflix to work a job or create a content channel on youtube.

Technology is rapidly changing the employment landscape. It's creating efficiencies across most marketplaces that are knocking down the old methods of doing business.

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