Rogé Karma

You talk to employers, you talk to hiring managers, and this period actually really scarred them.

Customers were experiencing all kinds of shortages.

They were experiencing use price increases.

You might remember

airlines at the time.

They're not in a great state now, but you might remember all the delays because you couldn't literally get employees trained up fast enough to be able to staff these planes, to staff these flights.

And what employers did in response was they said, we need to hire as many workers as possible and we need to hold onto them.

for dear life, because we don't know whether this is going to happen again.

This is a story I heard over and over and over again.

Employers were scarred from that period, and so they were very reticent to let workers go afterwards, which also, because they were very reticent to let workers go, once they had staffed up completely, they weren't ready to hire new ones.

So basically, it was almost an overcorrection from the Great Resignation, was to hire, hire a bunch, and then all of a sudden, we have enough people, maybe too many people, we're not going to hire anymore,

That said, that explanation only gets you so far, Derek, because you could see, okay, maybe 2022, 2023, I could see that.

But eventually, you would realize the economy is moving again.

And maybe we need to hire more workers.

We can get rid of certain workers.

And it still hasn't happened.

So why?

And overwhelmingly, the answer I heard from employers, from hiring managers was uncertainty.

That you have the end of this great resignation period, but then you get...

rising inflation.