WalletHub features insights from Mark Kurt on employment trends

The piece by WalletHub financial writer Adam McCann focused on states where employers are struggling to fill vacant positions.

A recent piece by WalletHub looking at locations around the country where employees are having difficulty hiring featured insights from Mark Kurt, assistant dean of global education and professor of economics.

Mark Kurt, Assistant Dean of Global Education and Professor of Economics

The article titled “States Where Employers Are Struggling the Most in Hiring” by WalletHub financial writer Adam McCann looked at current hiring trends, and McCann asked Kurt about the main factors that are influencing high turnover rates in the labor market.

“Ultimately, there is an overall increase in the demand for labor,” Kurt told McCann. “As we entered the endemic phase of COVID, households increased their consumption and shifted it more towards services. At the same time, the number of those potentially interested in working has not increased. … The combination of these two factors creates what economists call a tight labor market, a situation where there are multiple job openings per potential worker.”

Kurt explained that higher turnover occurs in tight labor markets due to the fact it may take less time and effort on average to find another job.

Read the entire piece for more insights from Kurt. His scholarship is largely focused on labor economics, health economics, macroeconomics and international education.