Paychex CEO Marty Mucci said Tuesday that he expected the many factors that are weighing on the market for jobs to decrease before the fourth quarter.He said that he could see the market opening up around September and that it would allow people to hire more easily.The U.S. economy is continuing to recover from the mass layoffs during Covid-19 lockdowns. There has been much debate about whether federal unemployment benefits deterred people from looking for work.Some states have stopped receiving $300 weekly federal payments. Gov. Missouri's Mike Parson, one of four states that ended the benefits, stated Sunday in The Wall Street Journal that the federal program had "worsened our workforce issues,"The New York Times reported that the Missouri government had not reduced federal benefits.Mucci stated that the rapid pace of hiring can't be attributed to one factor.He said, "What we are hearing from our clients it really is a combination of many factors that make it difficult to hire."Mucci stated that more Americans feel financially secure this summer due to the stimulus payments that were made to most taxpayers, and the strong performance in the stock exchange. He also said that concerns about safety and vaccination rates are also a factor.Mucci also noted that families face another challenge when day care centers or schools do not operate at their normal levels.Mucci stated that people are saying "right now there [are] all the concerns I mentioned" and that when it comes down to it, they might be waiting. "They will wait and see. Then, I believe [hiring] will pick up in September."
