Fed President: Worker Shortage Caused by More than Unemployment Benefits

As the economy keeps growing after the lifting of COVID-19 restrictions, demand for workers has consistently outpaced the number of people willing to take those jobs. The current jobs opening rate is at its highest in more than 20 years, but there are still seven million fewer people employed now than before the pandemic, Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, told members of the North Carolina Economic Development Association on Wednesday.