Post-pandemic labour markets in West now have backward bending supply curve

The financial aid provided by governments to help people during the pandemic is dis-incentivising people from re-joining the labour force to the full extent that they can

Travellers across the world — most notably in Europe — are seeing their plans being disrupted by long delays at most major airports. Everyone has a horror story to tell. 

The reason for this is a severe shortage of ground staff. A major reason for this is a concept in economics: the backwards bending supply curve.

The irony is that this backward bending-ness was thought to be the defining characteristic of primitive labour markets like, say, the ones in Bastar in the old days. But now even Europe is seeing it. 

What happens is this. In normal circumstances, the supply of labour increases