• RennederOPM
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    1 year ago
    •  While driving cross-country, the author noticed a $1,000 sign-up bonus sign at McDonald's. 
    
    •  The US workforce remains structurally imbalanced and resists downsizing. 
    
    •  U.S. worker participation has plummeted during Covid and remains below pre-Covid levels. 
    
    •  The participation rate is a full percentage point below pre-Covid levels, which is amazing. 
    
    •  In retail, restaurants, manufacturing, trade, and so on, companies are having difficulty hiring staff. 
    
    •  Automation always reduces the share of labor in value added and can reduce the demand for labor. 
    
    •  Automation of contract law, software, and call centers is displacing vast numbers of people. 
    
    •  We need the best tools and technologies to achieve explosive growth in productivity.