thank you for your insights. I think understanding the future level of inflation is the number one issue today in financial markets. A big unknown in my opinion is labor availability and the cost of labor. My oldest son is 19 years old and currently starting his second certification program as a specialty welder. He recently received a job offer while still in school of $40 per hour (upon graduation - late spring 2023). It is hard to believe that a 20 year old specialty welder machist can make this much money right out of trade school. My cousin's 21 year old son recently signed on with an electrical power company outside of Tampa, Florida. He started out at $60k with benefits. I am a self-employed research biologist that works in central florida agriculture (citrus and vegetable specialist). My colleagues include local contractors, farmers, as well as multi-national life science companies that I conduct projects for. It seems that every conversation I have, the issue of available workers comes up. Nobody can hire workers. Companies are going to be very reluctant to reduce head count. Experienced workers just aren't available. I see young professionals being promoted to more senior roles at an earlier age than 20 years ago. Labor demographics have changed.
The most interesting piece I've seen this year - so far
thank you for your insights. I think understanding the future level of inflation is the number one issue today in financial markets. A big unknown in my opinion is labor availability and the cost of labor. My oldest son is 19 years old and currently starting his second certification program as a specialty welder. He recently received a job offer while still in school of $40 per hour (upon graduation - late spring 2023). It is hard to believe that a 20 year old specialty welder machist can make this much money right out of trade school. My cousin's 21 year old son recently signed on with an electrical power company outside of Tampa, Florida. He started out at $60k with benefits. I am a self-employed research biologist that works in central florida agriculture (citrus and vegetable specialist). My colleagues include local contractors, farmers, as well as multi-national life science companies that I conduct projects for. It seems that every conversation I have, the issue of available workers comes up. Nobody can hire workers. Companies are going to be very reluctant to reduce head count. Experienced workers just aren't available. I see young professionals being promoted to more senior roles at an earlier age than 20 years ago. Labor demographics have changed.
Well done article
Nailed it... as usual. Nothing to see here folks, just a minor debt hill, nothing more... move along!
Very interesting, thanks.
Thank you for publishing this Anatole Kaletsky piece, a very thoughtful exercise in critical thinking.
Well said.