Mortgage rates reach highest point since 2011 - April 18, 2022

Millions of U.S. workers are not expected to return to the workforce, according to a new study from researchers at Stanford University. The report raised concerns among observers that progress toward reaching pre-pandemic levels of employment may stall, resulting in stubbornly high inflation. Labor force participation remaining low poses challenges for employers trying to recover from slow population growth and a weak labor force following the pandemic, forcing some businesses to compete for a shallow pool of candidates and push increasing labor costs on to customers. Auto industry experts predicted car supply shortages will last into the next year with the backlog of demand from consumers likely to keep inventories low even if issues such as the microchip shortage are solved soon. Modest income buyers have been largely priced out of the new vehicle market as a result of increased costs and lower supply, and the war in Ukraine has slashed already strained global auto production. With auto supplies low, wealthy buyers remain in a strong position while auto dealers have limited leasing options for some buyers due to high demand. New York City employers will be required to list salary ranges in job descriptions within the next month following similar moves from states such as Washington. Business groups in the city warned that the requirement may harm diversity hiring efforts, though some observers argue that salary transparency provides an opportunity to promote equal pay clarity. Some experts have noted pay transparency can cause companies to hire fewer people but said transparency can also allow companies to close pay gaps and employees may also be happier as a result. Travel industry experts forecasted a chaotic summer travel season due to high consumer demand pitted against understaffed airlines. Understaffing has not been limited to airport staff as pilot shortages have plagued the airline industry, with pilots reporting fatigue and heightening safety concerns while travel demand begins to spike. American A