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America's Bosses Are Finding Ways to Pay Workers Less
Wall Street Journal ^ | 08/30/2024 | By Ray A. Smith, Chip Cutter and Lynn Cook

Posted on 08/30/2024 8:39:56 AM PDT by SeekAndFind

Bosses are quietly trying to reset worker pay levels, saying the era of overpaying for talent is over.

Pay for many white-collar recruits shrank last year, and now wages for new hires in construction, manufacturing, food and other blue-collar sectors appear to be ebbing too, according to an analysis of millions of jobs posted on ZipRecruiter.com.

Job seekers report seeing roles that once offered salaries between $175,000 and $200,000 a year ago now being advertised for tens of thousands of dollars less, a change that has had them rethinking their pay expectations. Companies are also moving job openings to lower-cost cities or offering them as lower-paying contractor roles, recruiters and corporate advisers say.

The push to reset employee salaries reflects a power shift in the cooling hiring market. Employers have more choice of who they can hire, and at what pay level, and are questioning whether they really need star hires when a workhorse will do. Even hourly jobs that were until recently the toughest for employers to fill are being advertised at lower pay than a year ago, as are some professional roles, according to business leaders and recruiters.

“A lot of companies are thinking they can get away with paying a cheaper salary because they know us job seekers are desperate,” said Eric Joondeph, 31 years old, who has been looking for a senior customer-experience role for nine months. He has lowered his pay expectations by at least $20,000 a year since he started looking.

Among listings for more than 20,000 different job titles on ZipRecruiter.com this year, sectors including retail, agriculture, transportation and warehousing, manufacturing, and food all registered drops in average posted pay. The biggest was retail, where average wages advertised for new hires is down 55.9%; agriculture is down 24.5% and manufacturing, down 17.3%.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: economy; inflation; labor; wages
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To: SeekAndFind
Say goodbye to the "I send emails from the beach for $200k/year" jobs.


21 posted on 08/30/2024 9:16:39 AM PDT by Drew68
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To: ClearCase_guy
"3) If you pay people a good wage, they WILL want to work for you."

Who decides what's a good wage, the employer, the government, the smelly hippie kid who can't read?
22 posted on 08/30/2024 9:23:51 AM PDT by The Louiswu (Pray for Peace in the world.)
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To: The Louiswu
Who decides what's a good wage, the employer, the government, the smelly hippie kid who can't read?

The market place for labor.

23 posted on 08/30/2024 9:27:44 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: SeekAndFind

Proper thinking is a good employee doesn’t cost, he pays.


24 posted on 08/30/2024 9:33:45 AM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: PeterPrinciple

It’s a good reason why people vote for democrats. They don’t feel save in a dog eat dog world and it’s the boss’ job is to think they’re not working hard enough.


25 posted on 08/30/2024 9:42:00 AM PDT by DIRTYSECRET
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To: SeekAndFind

Why wouldn’t they, there are all the illegal aliens to hire here now...


26 posted on 08/30/2024 9:43:08 AM PDT by Democrat = party of treason
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To: SeekAndFind

British-Indian management model:

- YELL at employees
- Fail to provide tools for the job
- Fail to maintain tools for the job
- Send 3 people to do the work of 8 people
- Fail to maintain property, plant, and equipment
- Run assets into the ground
- “Invest” in businesses near county and state prisons (ie hire people who are “half-way” out of jail, frustrate them [see list, above], and either they will walk away [back to drugs, and then jail] or fire them for “theft!”)


27 posted on 08/30/2024 9:43:44 AM PDT by linMcHlp
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To: Vermont Lt

Pretty sure it was NEVER taught in high school


28 posted on 08/30/2024 9:55:17 AM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: SeekAndFind

Trump says skilled immigration is coming with him. If your lifestyle depends on your college degree pay… you better start looking for a new line of work.
But he says it’s all AI… after meeting with “experts”.


29 posted on 08/30/2024 10:08:41 AM PDT by momincombatboots (BQEphesians 6... who you are really at war with.)
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To: SeekAndFind

No worries. Heels Up Harris and the RATs will cancel the laws of economics. Free stuff for all!


30 posted on 08/30/2024 11:24:42 AM PDT by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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To: ridesthemiles

I guess it should be included with a “critical thinking” seminar. LOL


31 posted on 08/30/2024 11:44:33 AM PDT by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: fella

Problem is everybody sits on each other’s boards, so it’s “You scratch my back, and I’ll scratch yours”.


32 posted on 08/30/2024 11:46:48 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: SeekAndFind

that’s what happens when you import 10s of millions of legal and illegal immigrants every year. Don’t forget your H1B job stealers as well.

It’s all worth it for “diversity” though, since Diversity is the national religion...


33 posted on 08/30/2024 2:42:52 PM PDT by imabadboy99
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To: jeffc

True. They get millions in salary and stock options. Then haggle over giving those at the bottom a 2% raise if any at all.


34 posted on 08/31/2024 3:00:35 AM PDT by virgil (The evil that men do lives after them )
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To: SeekAndFind

The dirty little secret about corporate America is the Executive Suite and Board Room are usually more focused on what’s good for themselves as opposed to the shareholders. Once in position, many of these executives and board members consider themselves to be the primary beneficiaries of corporate assets and conduct business and policy to that end. Shareholders need to wake up.


35 posted on 08/31/2024 3:48:20 AM PDT by Rlsau1
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To: SeekAndFind

Isn’t that what most companies do — pay the workers as little as possible so they can keep the remainder for themselves and the investors? Isn’t that their job?

The only company I worked for that was super generous with paying employees was GE, under Jack Welch. They were diligent about weeding out bad workers, but the ones who were there were rewarded with very good salary increases, and generous monetary merit awards for exceptional performance. (I made a killing!) When Welch left, so did the recognition of employees.


36 posted on 08/31/2024 4:47:50 AM PDT by MayflowerMadam (I'm voting for the convicted felon with the pierced ear. )
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To: z3n

Try finding a decent TENANT nowadays for residential real estate. almost 200 responses, only 3 qualified, empty since 4/1. Will stay that way until I find a decent tenant (not looking for perfection).


37 posted on 09/03/2024 11:42:43 AM PDT by AbolishCSEU (Amount of "child" support paid is inversely proportionate to mother's actual parenting of children)
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To: SeekAndFind

https://www.wsj.com/news/author/ray-a-smith

https://www.wsj.com/news/author/chip-cutter#:~:text=Chip%20Cutter%20is%20a%20reporter,how%20work%20is%20changing%20today.

https://www.wsj.com/news/author/lynn-cook#:~:text=Lynn%20Cook%20is%20the%20careers,section%20in%20New%20York%20City.

It took two reporters and one editor to produce this latest attempt at lets-you-and-him-fight.


38 posted on 09/03/2024 11:46:01 AM PDT by mewzilla (Never give up; never surrender!)
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To: SeekAndFind

They are paying more than ever - just not enough to keep up with government-induced inflation.


39 posted on 09/03/2024 11:47:51 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: AbolishCSEU

If tenants had any brains they’d realize that landlords are really hamstrung by government from asking certain questions, and that by volunteering the info that landlords can no longer ask, they might be able to land a decent apartment that way.

IOW, if you have a clean criminal record, a job, a decent credit score, et al, then tell the landlord.

They can’t ask, but Deep State can’t stop you from volunteering the info. 😄


40 posted on 09/03/2024 11:49:27 AM PDT by mewzilla (Never give up; never surrender!)
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