The number of unemployed people in the United States is rising again, the department said Thursday, with 353,000 new applications filed last week instead of the 350,000 expected. According to the data, the situation is almost unchanged from the previous week, when 349,000 applications were received, but it is much higher than the pre-Coronavirus average of two hundred thousand. Also Thursday, the second estimate of economic growth in the second quarter was released.
According to the report, GDP grew by 6.6 percent on a quarterly basis instead of the 6.5 percent indicated in the first estimate, but still less than the 6.7 percent growth rate forecast by Dow Jones.
This expansion is largely due to massive stimulus from the federal budget and a vaccination campaign, which has led to increased consumption. The data, according to a CNBC assessment, means the economy’s recovery is continuing despite a sharp rise in the number of coronavirus infections in the country once again. The markets did not react much to the news, nor did it cause a major movement in the New York Stock Exchange.
However, the pace of additional growth is being called into question by the seemingly ongoing problems in supply chains and labor shortages, which are affecting other advanced economies in addition to the United States, such as Germany and the United Kingdom. As for the first economy, Europe’s largest economy is threatened by massive labor shortages due to an aging population and declining birth rates, warned Rycliffe Scheele, head of the Federal Labor Office, in an interview with Süddeutsche Zeitung this week. This year alone, the number of people of working age will drop by about 150 thousand,
The situation will become even more dramatic in the coming years. It is an indisputable fact that workers in Germany are running out
– He added that there will be a shortage of skilled labor in every sector, from health nurses to logistics specialists to academics.
According to him, for this reason, the country needs 400,000 immigrants annually, “much more than they have reached in recent years.” He stressed, however, that space could not only be filled with refugees but with targeted seducers.
According to Deutsche Welle, the number of 83 million foreigners living in Germany rose by just 204,000 last year, largely due to the coronavirus epidemic, the lowest in a decade, and applications for naturalization of foreign professional qualifications fell 3% to 42,000.
In the UK, the fears of others are exacerbated by Brexit and new immigration rules. The number of workers, mostly from Eastern Europe, has fallen so dramatically that there are not enough truck drivers, empty shelves have appeared in supermarkets, and food and drink in restaurants have run out. Only a hundred thousand drivers are missing, thirty thousand of them are EU citizens, many of them are under quarantine due to the epidemic, and forty thousand truck driving tests have had to be postponed.
According to the Tesco chief, they can only meet the current demand, but they are not able to book in advance for the holiday season, so it is conceivable that there will be a serious shortage of goods for Christmas.
Richard Walker, managing director of the Icelandic supermarket chain, mentioned that 30-40 trucks a day get less goods to its stores due to a lack of drivers. According to official statistics, the sector of logistics and low-wage food has traditionally been dominated by Romanians and Bulgarians, but since the end of 2019, their number has decreased by about 90 thousand, or 24 percent. According to sectoral sources, tens of thousands of seasonal agricultural workers and 14,000 meat processors were missing. Tony Dunker, director general of the British Chamber of Commerce (CBI), warned that labor shortages were already starting to dampen the economic recovery and urged changes to immigration rules.
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