Jenkins, Magnus, Volk, Carroll, P.C.

Certified Public Accountants

 

42714 Woodward Avenue  Bloomfield Hills, MI 48304

 

Phone: 248-858-2400

Fax:     248-858-7301 

 

Website: www.JMVCcpa.com

December 2021

December 2021 Short Bits

Short Bits

SUPPLY SHORTAGE
In a recent Gallup poll, 60% of US adults said they could not get a product they wanted last summer because of shortages, and 57% said they’d experienced significant delays in receiving the product they ordered. Over 80% of those surveyed experienced considerable price increases. These scarcities and delays are primarily caused by labor shortages and difficulty securing raw materials.


GRANTS GIVEN
The US Small Business Administration recently awarded $2.7 million in grants to women-owned businesses impacted by the COVID-19 pandemic. Grants of up to $200,000 were given to 14 organizations to help inspire active female entrepreneurs across the country and aid women-owned businesses in expanding their products and services to meet the changing post-pandemic economy.


OLDER WORKERS
According to the US Bureau of Labor Statistics, America’s workforce has changed a lot in 40 years, and it’s getting older. Between 1979 and 2019, the fraction of the workforce that’s 65 years or older increased from three percent to seven percent, partly due to longer lifespans and a decrease in physically demanding jobs. And there are fewer teenagers in the workforce today. They made up about eight percent of workers in 1979 compared to only three percent in 2019.


SHORTER WEEKS
Scotland joined Iceland, New Zealand and Japan in a trial run of four-day workweeks to boost employee productivity and happiness. Workers won’t see a pay cut for the decreased hours thanks to $13.8 million in governmental funding. Results from Iceland’s shortened workweek implemented in 2015 show that over 80% of workers reported a better work-life balance.


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