not too difficult to understand. It’s a labor supply chain problem really.

1) COVID pushed around the already tight workforce.

2) Plenty of money sloshing around from 10 year + bull market, strong housing gains and stimulus to companies and people.

3) No one likes doing the crummy, labor intensive work, if they do not have to.

4)a. Dual answer, early retirees and realization that we can be less wasteful in our spending.

4)b. Adolescence runs until your late 20’s now … they live at home.

5) The boomer retirement run has 5 -10 yrs left ? Someone smarter than me can figure that out.

I have one last theory…. For 40 years now, everyone was told to go to college … there has been a labor mis-match in all the trades for awhile now … and only getting worse. That mis-match will grow more and persist for a long while I think.