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The Real Economy: November 2021

Nov 09, 2021 blog featured image


Authored by RSM US LLP

Download The Real Economy: November 2021

Widespread labor shortages are hampering companies’ ability to capitalize on an economy that is expanding as the country recovers from a devastating pandemic. Companies will not experience a return to the way things were in the labor markets before the pandemic.

The retirement of baby boomers, lingering challenges associated with the pandemic and a “you only live once” philosophy among many younger workers are driving a structural shift in the labor market away from the conditions that prevailed since the 1980s.

Now employers are wooing workers with improved pay, flexible work arrangements, state-of-the-art technology and better employee treatment. And these changes are just the beginning of what is a significant shift in the American workforce.

Middle market firms across industries are finding themselves on the challenging end of the labor issue, as they try to ascertain how to navigate the shocks unleashed by the pandemic.

In this month’s The Real Economy economic outlook. we examine the impact of this transformation on middle market organizations. We also examine how $15 became the de facto minimum wage, the growing economic muscle of the Hispanic community in the United States and lessons for developers from the American Dream mega-mall.

Download the full November 2021 economic report.

This article was written by Joe Brusuelas and originally appeared on 2021-11-02.
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