LAS VEGAS (FOX5) -- A Las Vegas economist weighed in on current supply chain issues and lingering worker shortages.

Jeremy Aguero is the principal at Applied Analysis. He is an economist whose research informs local businesses, investors, developers, attorneys, trade organizations, legislators and the media.

Aguero explained why we are having supply chain issues. 

He said turning back on the economy is not like flipping the switch. A lot of people are leaving the workforce and that includes dock workers at the ports and truck drivers. A lot of people decided to retire and it’s obvious there was no mechanism in place to replace these people and that’s why we don’t have the infrastructure right now to get these goods to businesses. He said he believes help is on the way, but we’ll be dealing with this for most of next year.

Workers are quitting their jobs at an alarming rate, according to Aguero. 

Aguero said the quit rate is the highest he’s seen in his life. He said some are still nervous about returning to work, others are looking for jobs where they can work from home, still others have become accustomed to the subsidies and don’t want to go back, but Aguero said there is a big sea change underway in how people view employment.

He said COVID-19 gave people an appreciation for time, life and connections that we have and if work takes them away from that, they are going to reconsider work.

America added 638,000 jobs last month but is still down 10 million since the pandemic started

A pedestrian walks past a Zara store with a large "Now Hiring," sign in the window on October 12, 2020, along the famed Lincoln Road area in Miami Beach, Florida.

The end game is near, according to Aguero. 

The market will correct itself, Aguero said. Inflation won’t last forever, gas prices will stabilize and people will eventually return to work, he says. While we have gotten ahead of the public health crisis, we are now dealing with the effects of the policies put in place to combat the pandemic. 

He said those measures weren’t bad, but when you pump $5.3 trillion into the economy, there are going to be consequences.

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(2) comments

GlWd

This is a complete bunch of nonsense. The current government and its failed policies is why we're in the state of disaster that we're in today. People have been greatly misled on all fronts and the only correction is to vote the bums out.

Snowflaker

Because all this is because of the last few months? Not because of 5 million dead from a worldwide pandemic? Holy smokes🙄 'merica! Freedumb!

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