Flexport Chief Economist Suggests Supply Chain Crisis Relief May Only Come in 2023

Appearing Monday on Yahoo Finance, Flexport Chief Economist Philip Levy suggested the supply chain crisis may only begin to let up in the beginning of 2023.

A transcript is as follows: 

ALEXIS CHRISTOFOROUS: Tell us when we might see this backlog finally start alleviate?

PHILIP LEVY: I think if you’re looking for “When are we more confident that relief’s gonna come?”, it’s a ways off. This might be as long as the beginning of 2023. There’s a bit of a backlog, and it’s a mess.

ANCHOR #2: We’ve seen a record number of people leave their jobs and obviously the president announced last week that the ports on Los Angeles and Long Beach were going to expand there hours. Where are all these workers come from?

LEVY: That’s a real question. I think there’s a challenge through a bunch of industries. You’ve got labor questions, inflation. One of the things that we’ve really seen if you look at the economy in this post-COVID era has been doing major reshuffles is just hard. We’ve seen that all up and down the supply chain.