What’s really behind the sputtering supply of talent?

If every country faces the same record tight labor market, then local policy failure may not be the cause.

“Where are the workers?” asks The New York Times desperately. The United States is facing an unprecedented labor shortage. There are more vacancies than job seekers. The reason? The Great Resignation: people are tired of their careers and are resigning en masse.

“Send migration signal to compete in global talent war,” cries The Australian Financial Review desperately. Restaurants are forced to close their doors. At our regular breakfast spot there is a sign: “Sorry, closed due to no staff”. The reason? The Australian borders were closed for two years and many migrants have left.

“UK unemployment falls to 48-year low,” reads The Guardian. For the first time since the figures were collected, fewer people are out of work than job vacancies in the UK. The reason? Brexit, of course.

“Germany skilled worker shortage reaches new heights”, headlines Frankfurter Allgemeine…