> Maybe it's just semantics, but I don't think "trouble finding labor" is a thing.
In a perfect market it isn't. In the real world, I know a big struggle in my area is simply getting enough people to come here in the first place. Not just farmers, but all businesses. It is a small population and there has been an recent economic turnaround, so all of a sudden there is a lot of work, but nobody nearby to do it. It will eventually correct as people start to move here, but that takes time. Possibly a lot of time. People tend to not uproot their entire lives to move to a new location on a whim, no matter how much money is on offer.
A shortage (the technical definition, not the one the newspapers like to use) is also possible under the right conditions. In my legal jurisdiction, the government has defined a price ceiling on doctor services. If there aren't enough doctors, we legally cannot offer them more money to attract them, or push other patients out of the market. Trouble finding doctors is very real, especially in rural communities where doctors are less apt to want to practice and no amount of money the patient is willing to offer is going to fix that.
In a perfect market it isn't. In the real world, I know a big struggle in my area is simply getting enough people to come here in the first place. Not just farmers, but all businesses. It is a small population and there has been an recent economic turnaround, so all of a sudden there is a lot of work, but nobody nearby to do it. It will eventually correct as people start to move here, but that takes time. Possibly a lot of time. People tend to not uproot their entire lives to move to a new location on a whim, no matter how much money is on offer.
A shortage (the technical definition, not the one the newspapers like to use) is also possible under the right conditions. In my legal jurisdiction, the government has defined a price ceiling on doctor services. If there aren't enough doctors, we legally cannot offer them more money to attract them, or push other patients out of the market. Trouble finding doctors is very real, especially in rural communities where doctors are less apt to want to practice and no amount of money the patient is willing to offer is going to fix that.