US is the only advanced economy in the world that does not have federally mandated paid vacation for its workers

US is the only advanced economy in the world that does not have federally mandated paid vacation for its workers, per BI.

As a result, 1 in 4 private-sector workers in the U.S. do not receive any paid vacation or paid holidays.

“The United States is the only advanced economy in the world that does not guarantee its workers paid vacation days and paid holidays,” said John Schmitt, senior economist and co-author of the report. “Relying on businesses to voluntarily provide paid leave just hasn’t worked. It’s a national embarrassment that 28 million Americans don’t get any paid vacation or paid holidays.”

Meanwhile, persistent labor shortages in the United States have reportedly affected many companies that are trying to attract and retain workers. This was especially true for small businesses and service industry businesses.

This comes when the average hourly earnings per month rose by 0.3%. The Fed notes that due to this increase, Americans can still continue to spend despite the pressure felt on the prices of multiple products and services across different industries.

The report notes that there was a concentration of hiring demands in these specific sectors.

  • Leisure
  • Hospitality
  • Healthcare

It was noted that those specific sectors reportedly experienced acute labor shortages. It also highlighted that, on the other hand, employers in other industries, like retail trade and temporary help services, had to stop hiring due to weaker demands.

Read more: https://unusualwhales.com/news/labor-shortages-affect-us-companies-trying-to-attract-and-retain-workers

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.