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Labor shortages are hitting several industries particularly hard, but perhaps none harder than healthcare, where workers are exiting in droves. |
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Healthcare industry coping with massive labor shortage It's no coincidence that the poor condition of the U.S. labor market comes as healthcare workers are leaving their jobs in droves. A recent survey revealed that 18% of the entire healthcare workforce quit their jobs since the start the COVID pandemic in early 2020. A combination of factors -- long hours, low pay, burnout and vaccine mandates -- are among the many forces pushing healthcare workers out the hospital doors. Another 31% said that they are currently or in the past 20 months have considered making a career change, and the healthcare sector was already low on workers before COVID. SEE WHY HEALTHCARE EXPERTS ARE WARNING OF A CRISIS
American workers are increasingly opting to go on strike Frustrated American workers aren't just leaving their jobs over the pressure of the pandemic; they're also going on strike. More and more workers are rebelling against low pay and long hours while watching their employers post record profits but not share the spoils. The strikes are hitting all sectors of the economy -- 31,000 workers at Kaiser Permanente; 10,000 at John Deere; 1,400 at Kellogg's -- and a theater workers strike was narrowly averted over the weekend. The strikes are doing damage to supply lines and inflation. Unions are using the dire labor shortage as a chip at the bargaining table. FIND OUT HOW STRIKES ARE IMPACTING THE ECONOMY
Supply chains shortages expected to persist into 2022 Americans have been forewarned that supply chain issues and shipping backlogs will require holiday shoppers to place their orders early if they want their gifts to arrive on time. Now it appears the problems with supply chain shortages will stretch into next year. Secretary of Labor Pete Buttigieg warned Americans and retailers that the current situation is unlikely to be ironed out anytime soon and will likely last well into 2022. He said the Biden administration is working with the transportation industry to clear up the logjams. FIND OUT WHAT IS BEING DONE TO FIX THE SUPPLY CHAIN
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Markets
| DJIA | 35,294.76 | 1.09% |
| S&P 500 | 4,471.37 | 0.75% |
| Nasdaq Composite | 14,897.34 | 0.50% |
| Japan: Nikkei 225 | 28,989.60 | -0.27% |
| UK: FTSE 100 | 7,234.03 | 0.37% |
| Crude Oil Futures | 83.49 | 1.47% |
| Gold Futures | 1,767.30 | -0.06% |
| Yen | 114.33 | 0.07% |
| Euro | 1.16 | -0.16% | | * As of market close |
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Why it's time to invest in rural America
Poverty in rural America predates the founding of the country. Those who make food and goods for the rest of the nation have always had a hard time making a living for themselves. But the gap between urban and rural America has widened in recent years, and it's time to build a bridge. Economists trace it back to the "Walmartization of America" that shuttered mom-and-pop shops on Main Streets throughout the U.S. Manufacturing jobs were shipped jobs overseas, leaving rural areas with a shrinking tax base, substandard schools and healthcare, the opioid crisis, and now an explosion of technology that has left behind an increasingly desperate demographic. Echoing calls to invest in urban America, lawmakers are seeking to bring rural communities into the fold of the 21st-century fold. FIND OUT WHAT CAN BE DONE TO RESCUE RURAL AMERICA
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Restaurant spat may be key in Petito case
While the manhunt for murder suspect Brian Laundrie continues, investigators are uncovering new clues that might explain the death of Gabby Petito. One recent report says that an Aug. 12 altercation between Laundrie and a Wyoming restaurant's staff might have led to her murder. Employees and witnesses at Merry Piglets Diner told investigators that Laundrie angrily confronted workers that day, and that Petito entered the restaurant to apologize for his behavior. Police think that could have been what set off Laundrie's temper before allegedly strangling his fiance. The incident occurred on the last known date she had contact with family SEE WHAT WITNESSES ARE SAYING ABOUT LAUNDRIE'S TEMPER
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'SNL' puts new spin on NFL, 'Squid Game'
NBC's "Saturday Night Live" steered surprisingly clear of politics in its latest episode, spoofing pop-culture topics like sports and entertainment. The NFL's racism scandal and "Squid Game" trumped the usual political jokes to offer some comedy that both sides of the aisle can laugh at. The cold open featured a slap at the NFL after Las Vegas Raiders coach John Gruden was fired for off-color comments made in email exchanges a decade ago that still haunt the league. "SNL" followed with its own take on Netflix's hit show "Squid Games" performed to a country music parody. START YOUR WEEK OFF WITH A LAUGH WITH 'SNL' HIGHLIGHTS
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Streaming success
"Squid Game" shattered Netflix's rating record in its first season on the streaming service. How many viewers saw it, and what show did it beat? Friday's answer: The classic sitcom "I Love Lucy," co-starring Lucille Ball and Desi Arnez, debuted on CBS in 1951 and was on air for six seasons.
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