Weekly new jobless claims unexpectedly jump to 419K
- In a CNN Town Hall, President Joe Biden was asked about the labor shortage plaguing restaurants.
- Biden said that restaurants and tourism will be in a "bind" for a little while, but higher wages could help.
- Biden backs a $15 minimum wage, but the measure doesn't have full party support.
In a CNN Town Hall, President Joe Biden weighed in on the labor squeeze currently hitting restaurants and other low-wage sectors.
John Lanni, an Ohio restaurant group owner, said that his industry continues to struggle finding workers: "How do you and the Biden administration plan to incentivize those that haven't returned to work yet? Hiring is our top priority right now," he asked the president.
In response, Biden said that the restaurant and tourism businesses are going to be in "a bind for a little while." Biden said that a "lot of" workers who had been working service jobs are taking advantage of new opportunities and higher wages as job openings surge.
Biden also suggested that something else could be contributing to current shortages: Low wages.
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