“People actually have a lot of money,” the JPMorgan (JPM) CEO said at a House Financial Services Committee hearing aimed at holding the megabanks accountable, “and they don’t particularly feel like going back to work.”
Some industries, including restaurants and factories, have reported hiring struggles in recent months.
Economists have cited three main causes: lingering health concerns, a lack of childcare and the $300 boost to federal unemployment benefits that could make it harder to fill lower-wage positions. Many GOP-led states have recently decided to stop paying those enhanced unemployment benefits.
Honeywell (HON), the world’s largest industrial company by market value, is having trouble hiring despite boosting wages. “We have far more openings than I’d like, frankly,” CEO Darius Adamczyk told CNN Business last week.
During the hearing, which included testimony from the leaders of the six largest US banks, Bank of America (BAC) CEO Brian Moynihan called the worker shortage a…
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