Write an article that discusses the unemployment rate and how desperate employers are for people willing to work. It states that “There were 11.3 million job openings at the end of January, with a record 1.8 open positions per unemployed person” (CNBC, 2022). That means that there are more jobs than there are people to fill them. Since the market for employees is extremely competitive businesses have to increase their wages to make their business more desirable than the millions of others looking to hire. The article mentioned that income inflation is helping employees considering the current price increases everywhere (CNBC, 2022). The article overall explains the desperate need for employees right now and how income wages are rising as prices also increase.This article talks about the imbalance of supply and demand for workers which is talked about in Chapter 3 of the textbook. The textbook talks mainly about supply and demand regarding goods, but it also relates to this circumstance. “The law of supply and demand is the idea that market prices adjust to bring the quantity supplied and the quantity demanded into balance” (Mateer & Coppock, 2021, p. 95). That being said with the “supply” of workers being low businesses have to respond by offering a higher wage so that the supply and demand come into more of a balance and come as close to equilibrium as possible. With the information this article gives that there are more job openings than unemployed people, it will likely never be perfectly equal unless most people work 2 jobs, but it can at least get closer than it is right now.I think that this situation has a lot to do with the pandemic when so many people were out of work. I think this led to people starting their own businesses and creating too many jobs or finding other sources of income. I think a Christian perspective on the unemployment problem is to understand the importance of working hard and supporting you and your family through hard work and not relying on the government’s money. The Bible says in Colossians 3:23 “Whatever you do work at it with all your heart, as working for the Lord, not for human masters” (Colossians 3:23, NIV). That being said we should do all that we do with a good work ethic and work hard for our earnings.
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