ELI5:Why is there a labor shortage when unemployment is low?

It appears that there may be a misunderstanding. Not sure if you get the terms. When “unemployment is low” it means that there is not many people looking for work… which is basically the same as, there is more work than workers, which means that there is a “labour shortage”… they basically mean the same thing.

The other missing part is that people assume that as there is a shortage… ie mid level or higher devs are severe at the moment. But low level devs are just not able to fill that gap, not quickly enough and there are a ton of low level devs and anyone could potentially be a dev but very very few are good ones… even though you can pull quarter mil with pretty mid range skills (like my lazy ass that got to a senior level and am just “bludging” at 200k)…

It’s the same with most industries

/r/explainlikeimfive Thread