Moody’s Analytics has warned that problems 'will likely get worse before they get better.'
Economists believe that there are several issues, including a nationwide shortage of truck drivers, contributing to the slowdown.As the U.S. economy struggles to fully recover from the coronavirus pandemic, supply-chain disruptions across the country are driving up prices and leading to a growing shortage of goods.
"You have a bunch of sectors that just pay minimum wage and labor is just going to veer over to where it finds the most profit," said Vidya Mani, an associate professor at the University of Virginia’s Darden School of Business. "There is a shortage of drivers, and it is one of several issues contributing to problems in the overall supply chain," said Sean McNally, an ATA spokesman."However it is a reflection of the strong demand for goods – and everything consumers buy is delivered in a truck."
"Strengthening our supply chains will continue to be my team’s focus," said Biden."If federal support is needed, I will direct all appropriate action, and if the private sector doesn’t step up, we’re going to call them out and ask them to act."Spencer Platt/Getty ImagesHow long before things return to normal?
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
From Film Sets to Manufacturing Plants, Unions Push Companies as Workers Stay Scarce“There is a new militancy out there.” Frustration remains among some workers who have been required to work long hours through the pandemic while companies reap big profits from a rebounding economy, union officials and labor researchers said.
Read more »
White House Announces New Steps To Tackle U.S. Supply Chain CrisisThe Biden administration announced a series of new steps that will be taken by companies and organizations in the private and public sectors to help address the continuing supply chain crisis in the U.S.
Read more »
Unions Push Companies as Workers Stay Scarce“There is a new militancy out there.” Frustration remains among some workers who have been required to work long hours through the pandemic while companies reap big profits from a rebounding economy, union officials and labor researchers said.
Read more »
Singapore says no disruption to electricity supply after power providers exitSingapore's energy regulator said on Saturday that it is working closely with retailers facing challenges from current volatile electricity prices and said there will be no disruption to their customers' electricity supply.
Read more »
Shoppers' habits can help ease supply chain crunch during the holidaysInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Buttigieg says US supply chain issues will 'certainly' continue into 2022Transportation Secretary Pete Buttigieg predicted on Sunday that supply chain issues facing the US will continue into 2022, but stressed that Congress potentially passing President Joe Biden's infrastructure proposal is the best way to help alleviate those problems.
Read more »