Posted on Oct. 15, 2021, 6:22 p.m.
” Working days ! Only days I lived! “. The pandemic buried Musset’s proclamation in Uncle Sam’s home. Patrick Artus estimates that in the United States, around 5 million skilled workers have voluntarily left the job market, new annuitants enriched by the increase in financial assets fed by the Fed. They worsen the reverse dynamics of GDP and employment on both sides of the Atlantic observed by the Natixis economist.
In Europe, the recovery, by creating “jobs” faster than wealth, has the unusual effect of deteriorating productivity by reopening jobs where it is traditionally low (distribution, transport, logistics, security, construction) . While in the United States, productivity continued to increase thanks to the modernization of companies, accelerated by recruitment difficulties.
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