President Biden will host NATO Secretary General Jens Stoltenberg at the White House today. The Norwegian has telegraphed that his talking points for the meeting and next week’s NATO summit will focus on China. Global Translations has more 👇
Labor shortages in key industries are giving many workers their best shot in years to bargain for substantial wage increases, with some companies ramping up pay to attract employees, particularly restaurants.Prising, who is Wisconsin-based, told Global Translations that talent shortages are at abut that he expects that mismatch between employers and workers to fade later in 2021.
At the same time, Prising believes governments need to invest more in making labor markets work: “Child care and elder care are great drivers of workforce participation. If you provide affordable care, women participate to a much greater degree. We don’t talk about it because it’s expensive, but the data is clear.” The upshot: “We’re focused on the wrong cost,” Prising said: fear of the financial cost of delivering care, rather than the cost of millions of women sitting out the labor market.
Small businesses also need help on skills: “If I look at our surveys from six or seven years ago, 15-20 percent of employers said training is really important, 80 percent said ‘not really.’ By 2019 that became 80 percent saying training is top of the list.” But not all of those companies have the financial resources or the predictive capacity to deliver the necessary training.
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