https://archive.ph/2022.10.02-210044/https://www.economist.com/finance-and-economics/2022/10/02/americas-economy-is-too-strong-for-its-own-good
"Spread over the entire economy, this is a powerful trend. America’s workforce today is basically the same size as in 2019. Its composition is, however, very different. There are 1m more workers in transportation and warehousing, reflecting the rise and rise of online shopping. At the other end of the spectrum, more than 1m workers have left the leisure and hospitality sectors over the past three years. According to the National Restaurant Association, a lobby group, roughly two in three restaurants are understaffed. Thus the slowdown in growth may lead to a smaller rise in unemployment than it otherwise would have done. Companies suffering from worker shortages have little fat to trim."
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The business model is to operate everything as a Just In Time skeleton crew working unpaid overtime. Something something shrinking profit margin over time something something.
Now everything is so tight that firing a person means knocking out a pivotal piece of profit-generating infrastructure.
According to capitalist idealism, the solution is to raise wages and then, to a lesser extent, prices. This isn't even part of the conversation, at least not honestly, because it cuts into profit narratives.