Millions of U.S. workers are not expected to return to the workforce, according to a new study from researchers at Stanford University. The report raised concerns among observers that progress toward reaching pre-pandemic levels of employment may stall, resulting in stubbornly high inflation. Labor force participation remaining low poses challenges for employers trying to recover from slow population growth and a weak labor force following the pandemic, forcing some businesses to compete for a shallow pool of candidates and push increasing labor costs on to customers.

Auto industry experts predicted car supply shortages will last into the next year with the backlog of demand from consumers likely to keep inventories low even if issues such as the microchip shortage are solved soon. Modest income buyers have been largely priced out of the new vehicle market as a result of increased costs and lower supply, and the war in Ukraine has slashed already strained global auto production. With auto supplies low, wealthy buyers remain in a strong position while auto dealers have limited leasing options for some buyers due to high demand.

New York City employers will be required to list salary ranges in job descriptions within the next month following similar moves from states such as Washington. Business groups in the city warned that the requirement may harm diversity hiring efforts, though some observers argue that salary transparency provides an opportunity to promote equal pay clarity. Some experts have noted pay transparency can cause companies to hire fewer people but said transparency can also allow companies to close pay gaps and employees may also be happier as a result.

Travel industry experts forecasted a chaotic summer travel season due to high consumer demand pitted against understaffed airlines. Understaffing has not been limited to airport staff as pilot shortages have plagued the airline industry, with pilots reporting fatigue and heightening safety concerns while travel demand begins to spike. American Airlines’ CEO has promised reliability for customers as the peak travel season begins, although some analysts have raised the prospect of long lines and canceled flights becoming the new normal for travelers as airlines struggle to meet demand.

Mortgage rates reached an average of 5% for the first time since February of 2011, worsening pressure on would-be buyers already dealing with skyrocketing home prices. Although the increase in rates is predicted to cool the market by reducing demand, the reduction in price is expected to be modest as demand continues to exceed record low housing supply. Observers expect the spring buying season to be cooler than last year as less than a quarter of consumers reported to Fannie Mae that it was a good time to purchase a home.

CONTENT FACTS.

https://turbinelabs.com/ (Turbine Labs) has tracked 7,311 media articles and blogs and 11,703 social media posts over the last 24 hours.

The next Turbine Labs https://turbinelabs.com/future-of-work-briefing/ (Leadership Briefing) will be delivered on Tuesday, April 18, at 9:30AM ET.

Questions or feedback? Don't hesitate to reach out to us directly.