Category: Career & Education

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Employee Job Satisfaction and User’s Repurchase

Employee Job Satisfaction and User's Repurchase

Customer satisfaction is an integral part of a company’s success, as a satisfied customer returns for multiple purchases. They will usually post about their experience online, tell their friends, or generally want to continue supporting the company. However, customer retention can often hinge on employee job satisfaction. After all, an employee’s overall well-being reflects on the company in various ways. For a company looking to retain its customers, job satisfaction is an important thing they will first consider.

The Perspective of an Expert

Christopher Groening works at the Robert J. Trulaske, Sr. College of Business as an assistant marketing professor. He offered his insight on the matter. Then, he explained how a continued emphasis on customer satisfaction leads businesses to offer their employees with unsatisfactory working conditions.

He said that many company owners get tunnel vision, focusing specifically on customer retention and loyalty strategies. These strategies take top precedent, as they are no longer focusing on their employees their working environment. Even if the company works in an industry where its employees will rarely interact with customers, looking after them can still boost customer loyalty and satisfaction.

A good example worth looking at is a company like Activision Blizzard. More specifically, how its fans reacted to its very serious allegations of work place misconduct.

The Activision Blizzard Situation

Activision Blizzard was once one of the most respected and beloved game development studios in the industry. They created multiple classics and fan favorites such as Overwatch, Warcraft, Starcraft, Heroes of the Storm. But in the past two years, the company’s intensely misogynistic work culture reared its head, showing a deeply problematic side of the company. Fans on social media responded by criticizing them, calling the company out for protecting the people responsible for fostering this toxic work environment.

The fan backlash brought about two walkouts staged by the employees, and player numbers for their games dropping by a significant margin. Following all of the news around its misconduct, even major shareholders pulled out of the company. Stock prices for the company fell to the lowest they ever had in its history, and the company would eventually be consolidated to Microsoft.

The Activision Blizzard situation is a good case study of how a company focuses on maximizing customer retention and leaving employees to deal with a very toxic work environment. Loyal players and a high-profile guild in their star MMO left, and people generally do not think kindly of them. Customers do not want employees to be treated poorly at all, regardless of why a company does so.

Smaller Companies Should Be Especially Careful

Understandably, the example mentioned above is by no means a small company. Activision Blizzard brings in billions in revenue every successive year, they are easily one of the biggest companies in the world. However, this is also a major concern for smaller companies, especially where customer and employee interaction is constant.

Customers care deeply about the companies that they support, especially if the firm aligns with their values. And when they find out that a company is not treating their workers with respect or care, they will not be willing to return. And if an employee works as a teller or interacts with the customers regularly, customers will usually tell if the employee is receiving proper treatment.

Improving Customer Retention by Improving Employee Satisfaction

CEOs play an integral role in retaining customers, even if it does not seem like it. Depending on how the CEO interacts with their employees, they could greatly affect employee morale, which could in turn affect customer repurchasing. With that in mind, here are a few ways that owners and CEOs can improve employee satisfaction.

Create a Better Working Environment

One of the most effective ways to improve employee satisfaction is to improve their working environment. If employees have to deal with a toxic manager or an uncooperative employee, their performance will suffer. Squash out any issues regarding misconduct instantly and make sure that your employees feel safe.

Hire Better Managers

It’s not uncommon to have one or two bad apples in a firm who are underperforming. Still, consistently poor performance from employees under a manager could be a sign that they are not a good fit. The manager should act as a mentor to the employees and offer them advice on how to improve.

Empower Employees

Empowering employees and making them feel valued is always an effective way to increase job satisfaction. Giving them the tools necessary for them to make critical decisions or to handle issues without intervention can show them that the company cares. And offering other intangible benefits like shorter workdays and flexible hours can make them feel more satisfied with their job.

Increased Employee Satisfaction Increases Customer Retention

Your customers are an important part of the business, but you shouldn’t focus on them to the point where you let your employees suffer.

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Career Career & Education

Getting The Most From Your Employer 401k Match

Getting The Most From Your Employer 401k Match

We all want to maximize our money coming in each week. With our jobs and savings, we have more options now than ever to increase profits. Savings accounts accrue interest and our employers supply 401k programs.

But did you know that most employers also have a 401k match program? A 401k is a great way to plan for retirement. Since many employers now offer a match program, growing your retirement fund has never been easier.

A 401k match program is essentially free money. Every time you put money into your 401k, your employer puts money into the account as well.

How To Start A 401k Match Program

Not all employers will offer a 401k match program. But it is never a bad thing to reach out to HR and ask if they do. Ask your employer what options they have available for your 401k.

Some employers will offer a full 100% match, while others offer a 50% match. Depending on the company, you may be able to work up to a 100% match after a few years of employment.

Are There Limits To The Programs?

The most simplified answer to this is, yes. There are limits on 401k match programs depending on the rules set by your employer. No two companies are exactly the same, so your new employer may differ completely from your old employer.

Most employers match up to a certain percentage of your income. For example, let’s say your employer will match 100% of 4% of your income, and you contribute 5% to your 401k. Your total amount contributed would be 9%.

On the other hand, let’s say that your employer will match 50% of 3 percent of your income, and you contribute 1% to your 401k. Your total amount would be 1.5%.

The higher amount you put into your 401k, the higher the match will be. It is always best to put in at least the minimum percent of what they are willing to match. If they match 5%, you should put in 5%. Anything less is essentially losing money that could be offered.

Are Their Caps On My 401k Investment

Yes, there is a cap on your investment. The only drawback to a 401k in my opinion is the limits set on how much you can earn each year.

For 2022, the maximum amount you can contribute is $20,500 for the year. If your employer has a 401k match program, the limit increases to $61,000. If you want to save more money for your retirement you may want to consider an IRA account.

Don’t Exceed Your Limits

Since there are limits on how much you can contribute to your 401k each year, you have to be aware of how much is going into the account. You do not want to exceed your allowed amount because you may be taxed twice on the amount earned. Reach out to HR before tax day to fix the issue and avoid double taxation.

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Career Career & Education

How to Prep for Performance Review & Get a Raise

How to Prep for Performance Review & Get a Raise

Despite enjoying your work and being happy with it, performance review still scares us all. It is that time of the year when you have to sit down and go over your performance with the manager. The review can either result in you staying at the same place or earning a raise. It is both time-consuming and causes anxiety. However, if you are prepared beforehand, you can save yourself from getting worried about it. Here are a few tips to prepare for a performance review and even land a raise:

·      Think of Your Performance Review as a Job Interview

You must remember how you did all the preparation before landing this job. Your performance review will analyze your current performance and possible prospects for a raise. So, take it as applying for a higher-level job. Revisit your old interview practice approach. Have your friend do a mockup interview.

·      Show Your Achievements

One of the important techniques is to show your achievements. Make a good presentation about what objectives you delivered and how much they positively affected your company. Brainstorm the value that you bring to this company. Show them how it can improve with your work in the future. You can talk about an upcoming project that you think is perfect to lead with your experience. These ideas will present a positive image to your manager and a possible raise.

·      Prepare to Get Criticized

This is your performance review of the year. It cannot be all positive, so you have to make up your mind to accept the criticism that you will receive. Listen to it and note down the points. You might not agree with all the criticism, but you have to accept it as your future in the company depends on it.

Explain to your manager how you will overcome the observed criticism and ensure your commitment to the company.

·      Review Current and Future Goals

Go over your previous goals and come up with future goals. This will show your boss your commitment and dedication to the company. You might even land a raise if your boss considers your efficiency. If you have already met your previous goals, that counts as a big plus for your raise.

·      Present Your Case for Salary Raise

You need to directly bring up the salary raise objective on the table. After all the discussion, make a case for your future in the company. Show them how you have earned the right to get a raise depending on the past performance. Tell them how you fulfill all the requirements and should get a raise. A strong case from your side will grab your boss’ attention.

Your hard work and commitment will determine how far you have come and how far you can go. You have done everything in the past year, so all you can do for your performance review is to be one step ahead. Review your performance, prepare for your boss’ analysis and be sure to present a powerful case that lands you a raise.

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Career Career & Education

Got Stood Up in a Job Interview? Here are 3 Lessons

Got Stood Up in a Job Interview? Here are 3 Lessons

Getting stood up should be no big deal. People get stood up at dates, friend meet-ups, and even awards. A lot of people also get stood up in their final job interviews. While it is not at all uncommon and completely okay, we should try our best to avoid it.

When you fill out a job application and send in your resume, you feel like you’re the best fit for the job. Most people are very sure that they would get selected and ace the interviews. However, most of these people clear all the steps and get rejected at the very last step: the interview. If you’re someone who got stood up at the final job interview, we’re sure you had a lot to learn from that.

Let’s have a look at what lessons you can learn from getting stood up at a job interview and how you can improve.

Notice the Red Flags

This may sound very cliché as you obviously can’t ignore the red flag of getting stoop up. However, for most people, it is the only red flag that they notice. The truth is, you might be ignoring a lot of other warning signs that are becoming an obstacle in the way of your success.

Oftentimes, we think we are the perfect fit for a certain job position. While it may be true, a lot of people start to blindly believe it. In reality, you may not really think that and might have just convinced yourself to believe it. Being overconfident about getting the job can lead to a massive downfall. There are also a number of other such red flags that become part of our personality.

Get a Control of Whatever You Can

If you get stood up at a final job interview, how would you react? A lot of people freeze in such situations and find it a hard challenge to exit the situation sensibly. People start to panic, send impulsive texts, or even get angry when they are disappointed.

One lesson to learn is that you cannot change the circumstances. It is completely out of your control to reverse things. However, there is still something that you can control. It is the way you react to the circumstance that you’re in. Your response can make a significant difference in what happens next. Try not to let your emotions get the best of you and understand that the job might just not be the one for you.

Look at the Good Side Of The Job Experience

You may have already experienced and know that every experience comes with lessons and a chance for betterment. While you may feel overwhelming emotions about the rejection, the experience may have taught you something valuable that will stay with you your entire life. Look for it, and you will find the value in your experience.

You will realize that when you look at the experience sometime later, it will only bring you gratitude. You might have learned big lessons like not taking the job search process as seriously, or you may have found out that you just dodged a bullet when you lost the opportunity. We think you may have gained more than you lost.

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Career Career & Education

7 Phrases To Stop Saying At Work

7 Phrases To Stop Saying At Work

If you’ve got an opportunity to work your dream job in this economy, consider yourself lucky! But if you want to make the best impression possible, there are a few words you should avoid saying. When working in a competitive environment, certain words can hinder your performance and confidence. The worst part is that you may not even be aware that you said them. It’s normal to use negative phrases at work, but it’s time to start using alternatives instead. Mentioned below are 7 phrases you need to stop saying at work now!

1. “No Problem”

Using the phrase “no problem” to reply to a “Thank you” is quite common, but it’s something you should stop doing. Whenever someone thanks you for doing a task at work, you just simply say “you’re welcome” instead. When you use this phrase, it will give you a sense of recognition and appreciation.

2. “This might be wrong, but…” Phrase

It’s okay to doubt yourself when given the opportunity to showcase your workplace with a new idea. But, this can turn out to be a great success if you avoid opening your presentation and conversation in general with negative phrases. These negative phrases often involve self-doubt and go like “I’m no expert but…” or “This is probably a bad idea, but…”

When you use such phrases, you steer the audience to see flaws that don’t even exist. Your audience can react positively or negatively, but don’t influence their decision by using phrases to highlight your flaws.

3. “I Feel Like” Phrase

When you’re not sure talking about a certain idea, you tend to use phrases such as “I feel like” as an act of self-protection during anticipated criticism. When you stop using these words, the people you work with will start taking you seriously. Instead of dragging the conversation, cut to the chase, and show them what you really mean.

4. “Just”

There’s no harm in using the word “just” in all your emails, but notice the times you use it in your emails. Using “just” is a very respectful phrase as you’re putting the other person in a position higher than you. You tend to use this phrase when you’re nervous and not sure what to say next. If you want to have the upper hand in decisions, then avoid using the phrase “just”!

5. “How do I…”

If you have to ask your boss a query, phrase it, so you seem like you want to learn. Don’t straight up start with “How do I…”? That just going to make your boss start questioning your capabilities, and that’s the last thing you want.

6. “Let me Know” Phrase

When using the term “let me know,” you’re being considerate towards others’ availability and time, but you’re not actually getting the job done. Think of other questions that provide a distraction, and use a phrase that confirms their availability but in a polite way. Don’t let them leave you hanging.

7. “Does That Make Sense”

After conducting a proper meeting or presentation, you want constant feedback to reassure that you made sense or were clear enough. In a frenzy, you may ask coworkers, “Does that make sense?” Using this phrase suggests you’re preemptively not coherent, and that’s not necessarily true. Feedback and clarity are not necessary for you to succeed, but you should have faith in your capabilities.

Conclusion

Once you stop using these seven phrases at work, you will notice a change of confidence and strength in whatever work you do. Start practicing now So you can communicate at work confidently.

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Career Career & Education

How to Stand Out At a New Remote Job

How to Stand Out At a New Remote Job

It is very interesting to get a new remote job. While the opportunity feels exciting and big, it can also bring feelings of confusion and nervousness. It is completely okay to feel nervous in new work settings, especially when it’s a remote job. If you are wondering how to grow and stand out while you’re at it, we have a few ways that will help you. Let’s see what you can do to excel in a remote job.

Tip #1 For Remote Jobs

It is as simple as this: if you avoid introductions, you miss out on opportunities at your job. The main reason behind people avoiding introducing themselves is the rejection of fear. However, it is important to understand that introductions specially make a huge difference in remote job settings. This is because remote or hybrid settings do not allow face-to-face interaction opportunities.

The best way to go about it is to practice and continue to introduce you even in days after the first week. You can just practice your opening lines and let the rest of the introduction flow according to the situation.

Remember to make use of the opportunity to introduce yourself whenever a meeting involves new people. Doing so will increase your chances of building relationships that can support you later.

Tip #2

The most you can do during formal meetings is to give an introduction. While it is good and makes a positive overall difference, they are still not sufficient. It is best that you try to build a connection with each of your colleagues.

For this, you can try to plan informal meetings as you can’t really talk to them outside of the formal setting of your remote job. Not only will such post-meeting interactions help you create relationships, but you will also feel more connected to your job and become more knowledgeable this way.

What’s more? Along with feeling connected and gaining knowledge about your job, you can gain knowledge about other opportunities outside of your job. For instance, you can ask your colleagues about what projects they’re working on and what companies they’re connected with.

Tip #3 For Remote Jobs

This tip is all about keeping your manager updated and briefed on what you’re doing. If you want to excel and be the best employee, ensure that your manager knows how hard you’re working. You can do this at the end of each week by contacting them through email or chat, whatever feels more convenient for the both of you.

What’s most important about this tip is that you remind your manager of how things are going. This will also act as a reminder of all your achievements and improvements as an employee. However, first, ensure that you’re not doing it unexpectedly.

Try to build a connection first and ask for permission to talk about your performance. Chances are, they would like to be on board with how well you’re doing. Also, don’t hesitate to ask questions or seek help.

Conclusion

If you strictly follow the tips, you will surely see a difference in how well you connect, even with a remote job. Not only this, in a matter of just a little time, you will also begin to experience the benefits.

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Business Career & Education Financial Government Grants Loans

How to Apply for Federal Grants

How to Apply for Federal Grants

There is no doubt that a federal grant is a great way for a business or individual to secure a monetary amount that help shape their financial future. It’s the difference between surviving and thriving for many and it can be a literal game-changer. But finding, applying for, and receiving a loan is much easier said than done. In fact, it’s often times incredibly hard to determine the best course to finding a federal grant that is right for you and your business.

Federal Grant Application

One of the most difficult aspects of the federal grant application process is determining which awards a person, small company, or organization is interested in and qualifies for. After all, with hundreds of grants to apply for, limiting the field may take up a substantial amount of time for a potential candidate.

A prospective grantee’s initial action will almost certainly be to register with the organization. In order to apply for a grant, an individual or organization must first register with the federal government. Depending on how well the individual phases of registration are done, registration can take anywhere from three to two weeks.

The Grant Application

The Grant Application package is the next step for potential grantees to take. Applicants will next require their CFDA Number, which is issued to the program for which the grantee is applying, as well as the Funding Opportunity Number and the Funding Opportunity Competition ID. Each of these identification numbers should be mentioned in connection to the grant for which the applicant is requesting.

Once the application has been retained, the applicant is responsible for reading through the pages of queries and saving modifications as they go. The initial pages of the grant application will clearly state the instructions and requirements for applying, which may contain extra items such as grant proposals. To save both the applicant and the federal government agency examining the grant hours of time, grants will not be allowed to be filed online until they are entirely completed.

After completing the grant application, an online applicant only has to click “save and submit” on the cover page to send it to grants.gov, where it will be routed to the appropriate department and people. When a submission is complete, a confirmation page will display, and a tracking number will be supplied in case of support or online submission problems.

Conclusion

Each grant has its own thorough application that explains everything a potential candidate needs to know before and throughout the application process. Potential grant beneficiaries will find that collecting and completing an application is one of the most straightforward elements of applying for and getting a federal grant, thanks to the availability of online registration and federal grant applications, as well as comprehensive instructions. Thanks to modern technology and advances, applying for a federal grant is far easier than it ever has been before.

The thing to remember when applying for a federal grant is that the process does take a lot of time. But most of the time isn’t spent on actually applying. Instead, the schedule is usually filled with deciding which grant is right for you and your business.

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Business Career & Education Media Tech & Media

Falling Unemployment Could Add To Worries

Falling Unemployment Could Add To Worries

Introduction

When you hear about the unemployment rate going down, you are led to assume that’s good news. In fact, we have always been taught that a low unemployment rate means the job market – and economy – are strong.

While that is typically and usually true, there are exceptions to that. We are currently in a jobs climate where a falling unemployment rate might be a bad thing in some ways. In fact, some experts are fearful for the future of the U.S. economy because of the dropping unemployment numbers. Why is that? What is causing this fear? How can a low unemployment rate be a bad thing?

What is Unemployment?

Before we can discuss what the latest unemployment numbers mean and how it could be a negative thing for the future of the economy, let’s define what unemployment actually is.

According to the U.S. government, the official unemployment rate is strictly defined as the percentage of workers who are unemployed and actively looking for a job. In other words, it’s the number of Americans who are searching for work and currently don’t have a place paying them for their services.

Recently, the American unemployment rate skyrocketed to heights that hadn’t been seen in decades. Thanks to the COVID-19 pandemic, millions upon millions of Americans lost their jobs seemingly overnight. In just a matter of weeks, 16.8 million people filed for unemployment due to shelter-at-home orders.

At the height of the virus, more than 20.5 million would-be workers were laid off. That means the unemployment rate was at 14.7%, which surpassed the 10% mark seen in the depths of the financial crisis.

Current Unemployment Numbers

According to the most recent Labor Department figures, the unemployment rate has been reduced to 5.1% from 5.2%. That’s down from around 15% only a few months ago. Those appear to be positive figures.

While any growth is welcome, some are concerned that the figures are insufficient. Economists anticipate that companies recently added 485,000 jobs to their payrolls, an increase over August but not as large as the monthly gains seen earlier in the summer.

But the numbers, while moving in the right direction, have some analysts worried for other reasons.

What Do They Mean?

As previously stated, the official unemployment rate published by the Labor Department only includes jobless persons who are not working nor actively seeking for work. It is important to note that millions of people stopped working and also stopped hunting for jobs when the coronavirus ravaged the economy in early 2020.

These people are left out of the jobs reports from the Labor Department. In many ways, they have given up the hunt for a job that suits them. That is why some analysts and experts are actually worried about the newest job numbers because it means that millions of people are throwing in the towel and no longer looking for employment. That is a dangerous, scary thought and could prove troublesome in the months and years ahead.

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Career & Education Education Financial Government Grants Loans

Furthering-Your-Education Grants

Furthering-Your-Education Grants

Introduction

Millions of hardworking Americans are having to adapt to fewer jobs or limited options by furthering their education in order to increase their value in a competitive job market, and the federal government offers a variety of options for prospective or current students who want to further their education.

Aimed towards a variety of fields of study and demographics, new college students and diligent adults wanting to continue their schooling are urged to check into the dozens, if not hundreds, of government grants that are available to help them thrive in their profession. These grants are the key to going through school, studying hard, and finding a career that is right for them. It’s a major difference maker for millions of people who want to study hard and worker harder but require some assistance to meet their goals.

Education Grants

Many of the most positive grants available to students through the federal government are basically scholarships, which are offered by government agencies such as the US Department of Education’s Office of Student Financial Assistance Programs, or specialized foundations named after the scholarship.

Some federal furthering-your-education grants adhere to a wide range of interests, and simply target a particular demographic, such as minorities, or American Veterans. Students who do not fit into a specific subject or demographic will also have choices. The US Department of Education manages the Federal Pell Award Program, which is more of a “blanket” grant that may cover a wide range of career ambitions, age groups, and general sorts of students over the age of 18. Essentially, a demonstrated and demonstrable need for financial help is the most important criteria for awards like the Federal Pell Grant.

Learn More About These Grants

Furthermore, candidates should be aware that Education Grants can come in a variety of formats. While scholarships and direct disbursements of cash for educational reasons are perhaps the most popular awards, long-term, low-interest loans are also available to assist pay the costs of school, housing, household expenditures, and other necessities for both full-time and part-time students.

Colleges, universities, and private schools all have their own set of awards to assist improve the quality of their educational equipment, personnel, and materials, which benefits present and future students indirectly.

Conclusion

With help from the federal government, potential students of all abilities and ages, and at all phases of life, will be able to further their careers and, ideally, their income. The educational scholarships offered by the Federal Government are designed for prospective students who need it the most and cannot afford a higher education without aid. They help guarantee that everyone has a chance at achieving their professional goals while also creating a wiser, more educated nation.

For generations now, countless Americans have turned to the federal government for help when it comes to going to school. And truly billions upon billions of dollars have been spent to create a base of Americans that is hard-working and devoted to learning more There is money available for most students looking for higher education, they just need to know where to find them.

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Worker Shortage May Keep a Lid on Job Growth

Worker Shortage May Keep a Lid on Job Growth

Introduction

While some people feel that the coronavirus pandemic is coming to an end and the worst is behind us, there are many signs that the pandemic is surging still. Ultimately, this is causing serious havoc for businesses and people all over the world. Things related to coronavirus are better, there is no doubt about that, but there is still a way to go.

The latest job numbers from the American Labor Department prove that the coronavirus pandemic is still affecting unemployment rate. The impact of the virus as well as a nationwide worker shortage is keeping the jobs market in unsteady shape. People are very unsure of what comes ahead. Many agree that we are definitely not out of the woods yet.

Current Job Numbers

Employers in the United States added just 194,000 jobs in September, a second consecutive sluggish increase and evidence that the epidemic is still wreaking havoc on the economy, with many businesses failing to fill millions of available positions.

According to the data released, the unemployment rate fell from 5.2 percent to 4.8 percent in September of 2021. The unemployment rate declined partly because more individuals found work. However, it also dropped. This is because approximately 180,000 people did not seek work in September, so they were not listed as jobless. In many ways, they were throwing in the towel and giving up their hunt for a job.

The economy’s slow job growth in September fell short of even the meager 336,000 jobs gained in August, and were the fewest since December, when companies actually lost employment.

Delta Variant

The labor market is becoming even more complicated thanks to a resurgence of the coronavirus, the Delta variant.

There was a time when it looked as if the virus was subsiding in America. Then the emergence of the Delta variant complicated everything. The number of cases surged to heights not seen since last year. And that changed how people worked. Thankfully, it seems as if the United States is once again turning a corner on the virus and things are getting better.

With verified new COVID-19 infections dropping, restaurant traffic ticking up marginally, and customers eager to spend, the economy is showing signs of escaping from the drag of the delta strain of the coronavirus.

But when September began, the number of new illnesses remained high. This caused decreased hours at many jobs and a fear from customers and employees to visit businesses.

Additionally, employers are still having difficulty finding workers since many people who lost their employment due to the epidemic have yet to seek work or have decided to move on and find a new career. Many economists have been perplexed by the longevity of that pattern, which has resulted in a record number of job opportunities. The demand for labor is high, so are the number of people looking for new jobs.

Conclusion

Combined, the Delta variant and lacking unemployment numbers are limiting the amount of job growth possible. While many predicted that this current time would find a booming economy, it seems as if the return to normalcy and prosperity has been put on hold for a bit longer.