Job Opportunities Entering the Economy Despite the Micron Variant Surge

 Job Opportunities Entering the Economy Despite the Micron Variant Surge

Written by: Grace Pasdera 

With the long lasting effect of the pandemic, many people were faced jobless because many occupations were no longer available showing growth or success during the pandemic. In the beginning of the pandemic, there was an increase of structural unemployment because industries were closing down and leaving workers behind with skills that aren't needed by other companies. Many occupations that thrived off of in person contact were no longer in use because of the intense health risk of Covid-19. 

Many people were discouraged to find work after being let go from industries they have been with possibly their whole career, although, the economy adjusted to new technological advancements and “norms” with the pandemic. Through the pandemic, the economy has shown how resilient the labor market is. According to Eli Rosenberg with the Washington Post in his February addition, “The U.S. economy added 467,000 jobs in January even as the omicron variant spiked to record heights.” New opportunities and occupations are being pushed into the economy to aid the structural unemployed and increase economic productivity during the long lasting effects of the pandemic. 

Additional job opportunities that spring from the pandemic’s long lasting effects increased frictional unemployment; unemployment which exists in any economy due to people being in the process of moving from one job to another. Rosenberg focused on the increase of job opportunities during the pandemic but he also looked at the effects it could have on inflation, “the labor market and economy have grown rapidly in the past year despite the pandemic’s delta and omicron variants, but rising inflation has caused a number of problems for businesses and households.” With adjusting to the pandemic job oppetunitendted entering the economy have to fluctuate their starting prices to attract workers, which create competition and strain for other competing companies. 

  

Source: Bureau of Labor Statistics

Works Cited

“All Employees, Total Nonfarm.” FRED, 4 Feb. 2022.

Rosenberg, Eli. “U.S. Added 467,000 Jobs in January Despite Omicron Variant Surge.” The Washington Post, WP Company, 4 Feb. 2022.