U. S. labor shortage could stay longer

The U.S. is missing around 4.3 million workers; a shortage many economists expect to last at least several more years

Companies and businesses such are attempting to adjust. Scarce labor is becoming a constant reading of the U.S. economy, reshaping the workforce and prodding firms to adapt by raising wages, reinventing services and investing in automation.

More than a year and a half into the pandemic, the U.S. is still missing around 4.3 million workers. That’s how much bigger the labor force would be if the participation rate; the share of the population 16 or older either working or looking for work, returned to its February 2020 level of 63.3%. In September, it stood at 61.6%.