It’s not a ‘labor shortage.’ It’s a great reassessment of work in America

But slave labor is essential to the existence of well off, wealthy and super wealthy people.

You can see that in ~about~ mid 20th century, when very high marginal tax rates of very high earnings reduced the incentive for owners and executives diverting profits from wages and into their own pockets, bonuses and spaceships.

Difference between a CEO's pay and his lowest or median employees wasn't times thousands. Now it is, thanks to free market slavery.

In those days, what we now euphemistically call "essential" jobs could actually support a family, a mortgage and sometimes college for the kids.

Now an essential job provides essential support to everyone except the wage slave. Me included, as I enjoy my free and same-day delivery book with my cheap WalMart oatmeal and cheese.

I personally know people close to retirement (age > 55) who quit their jobs for good because their investments have gone through the roof and they don't need to work any longer in bullshit jobs.

Some spouses have also given up working to become single earning households. The govt is paying enough unemployment that one spouse can focus on raising kids without fear of falling into abject poverty.

I think our system of squeezing output until the old age of 65 is not desired by humans. A ubi-lite system is already making people focus on what matters to them.

It's entirely possible that these people are trying to find more productive jobs now that they have the freedom to pursue them.

The opposite may also be true, companies are trying to raise their productivity to reduce the amount of labor needed rather than just hire underpaid workers with no negotiating power.

Considering the lax lending environment cutting the amount of bullshit jobs that are not meaningfully productive to the economy may be a good thing over the long term. The stimulus payments have created a shift towards consumer spending which helps companies focus on customer needs than chase after investors for additional funding who effectively get to decide what services or goods should be provided to the economy.