Very low unemployment means employers have to raise wages to attract workers, which causes inflation and may force some business to close. It also makes it hard for the economy to grow since expansion requires workers. A factor in the US is Trump;s anti-immigration policy which deprives the economy of cheap labor. A serious problem is that the US is now in the period of the “boomers” (born 1946 and onwards) quitting the job markets, and the boomers turned out as a group (frum community excepted) to have been total failures at producing a new generation, dooming the US to a prolonged period of economic decline unless something can be taken to make up for the babies the boomers didn’t have (e.g. robots, immigrants, coercing people to work well beyond retirement age, etc. – note that the Europeans and East Asians have the same problem, suggesting it won’t be the Russians, Chinese or EU that ends up stealing our lunch).
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