Posted on 08/09/2021 1:30:14 PM PDT by Oldeconomybuyer
In another drastic reminder of just how fundamentally the pandemic has distorted the labor market, the number of open jobs soared to a record 10.1 million in June, according to the latest monthly data from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Summary. As the economy rebounds — even while the delta variant of the coronavirus is spreading in poorly vaccinated parts of the United States — businesses are scrambling to add staff.
“This adds an exclamation point or two to the sense of urgency employers are feeling,” said Mark Hamrick, chief financial analyst at Bankrate.
The number of people who quit their jobs — used by economists as a sort of proxy to gauge worker confidence — rose to 3.9 million in June, hovering near the record of 4 million set in April. Hiring rose to 6.7 million, up from 5.9 million in the month before. Demand for workers was highest among employers in business and professional services, retail trade and hospitality — food service and accommodations — businesses. Regionally, the South had the most activity, with both the number of jobs as well as the number of people quitting jobs increasing.
On the flip side, layoffs notched a record low of 1.3 million. “That tells us the people who accept a job are sticking with a job. It could be that more and more companies are increasing salaries in order to attract and retain their employees. If people are making a better wage, a living wage, then they’re more likely to stick with it,” Stovall said.
(Excerpt) Read more at nbcnews.com ...
You wouldn’t know that looking at reddit. Scores of Generation Edible Tide Pod bitching that they keep getting turned down for jobs. Maybe it was that tell tale smoking weed at the interview...
I have a friend who works the deli at a Kroger.
They make 15 bucks or a bit more plus pretty decent benefits as it’s a union shop.
They literally can’t get people to come and work, and the ones there are swamped. Some days they can’t even sell deli meats because there’s no people to cut and package them.
Why the sam hill is Congress cranking up $3.5 Trillion in stimulus when the economy is recovering on its own from the crushing effects of government overreach?
Fast food jobs?
dems are happy. They have destroyed Trump’s economy and encouraged people to not work. The handouts from the government did it.
The main goal of government should be to have as many people working as productively as possible for as long as possible.
Extra unemployment money and can’t be evicted. What a country!
Dims are happy because they have forced so many to rely on the govt checks that the next republican who comes along who plans to get people back to work will get a lot of blow back. Add to that, millions of illegals who will also be on the govt dole.
And guess who gets to pay for all that???
“Maybe it was that tell tale smoking weed at the interview”
That and nothing says professional like the obligatory nose ring and scorpion tattoo on the neck.
Don’t forget the tri color hair. It has always been my assertion that over the last decade young people have try to look as bizarre as possible to escape employment.
I have a similar story. My favorite pastry/coffee shop has cut back their hours twice recently. The very successful and profitable shop does not have enough staff to operate the hours they did pre-Covid.
She had a help wanted sign up for weeks. Looking for a dishwasher so her bakers do not have to do it. Offered $20/hour and (she's a former trade school baking instructor) offered to train the dish washer how to commercially bake. No takers. None!
As she told me, "I can not compete with the government on wages and benefits"
Hardto get cheap, even unskilled labor. Now you know why corporate America wants open borders.
Underpay people, obviously. Overpay them welfare. Tell them to wear masks, and take a death jab. Seems companies and government are doing everything they can to prevent employment.
“Don’t forget the tri color hair. It has always been my assertion that over the last decade young people have try to look as bizarre as possible to escape employment.”
I totally support your theory. Crazy hair, piercings, and clothing were first attention seeking mechanisms, but they have morphed into an anti-employment mechanism.
Well it’s not rocket surgery. Labor is traded just like any other commodity. Pay more. Then they will get more and better applicants.
The next step is to offer $21.00/hr.
Define cheap.
Agreed. The government has always kept some wages artificially high with minimum wage, but now it’s also doing so with high unemployment benefits, free helicopter money, no evictions, etc. So now we have a labor market where nobody wants to work. Which leaves the smaller pool of people who actually DO want to work able to command vastly higher wages and better benefits.
The inevitable consequence is inflation, but don’t bother trying to explain that to most people.
I was hoping to get fired / laid off so I could collect free money but it looks like I will retire before that happens....
Saw a sign in front of a McDonalds.
$18/hr to start.
Of course a #1 combo is now $9.
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