Worker Shortage Crisis Deepening

The May jobs report will be out soon, that will tell us a lot.

A month and a half old GDP report does not really help tell us what is happening now.

ADP said that almost a million jobs were added in May. If the BLS comes close to that then we will know that April was just out outlier.

 

Why do you sympathize with them? They should simply go back to work, they will be making the same or more than they did pre-Covid. COVID was not meant to me a wage increase for everyone.

 

OH you mean all these decades employers never knew it is hard to run a business without workers.............it took COVID to show that................................how absurd.

Why do you think Biden and his economic advisers do know that paying people not work gets you more people not working? He claimed yesterday that the UE benefits are NOT keeping people from working.

 

The question will be in what states. Indeed.com reported that in states that announced they were ending the extended benefits jobs searches jumped 10% the NEXT day.

 

I sympathize because I've worked minimum wage before, and it sucks. Because I know that, although there are a lot of places hiring, a lot of jobs are underpaid. Because I know what it's like have an idea and think "if I just had enough time, I could really make something big out of this," and if I'd been in a position to get paid to stay at home and work on that idea I probably would have. Abd because I see how a lot of companies take advantage of workers.

"They should simply go back to work" is such a myopic thing to say. People don't exist merely to do menial jobs for companies. So many were probably working these underpaid jobs for so long that they'd forgotten some of their own self-worth. If they've woken back up to what it's like to really value their time and now say "that's what you're paying for that job? Nah, I'll see what other options are out there," then I applaud them.

 

When you have a well of more workers than jobs and can be picky, the worth of the employee is diminished.

 

You just said:

But there is not a worker shortage, there is at best a willing to work shortage.

And now you admitting that you don't know, we have to wait for a report. So, why didn't you say that in the first place?

A 6 plus point jump on GDP tells us that the economy is on the rebound in a very big way.

If you are a glass is half empty person, you will say 'lazy people took their $300 per week unemployment and didn't look for work'

If you are a glass is half full person, you will say, naturally, with a surge like that there the demand for labor will strain the job market.

But, historically speaking, unemployment insurance always has been a disincentive for those slacking on looking for work, since it was introduced back in the 60s. However, with a low amount that it is now, $300 per week, it's a great incentive to seek work, because $300 a week is hardly enough to live on.

 

We don't have that, we a well of more jobs than workers and employers have known since there were employees finding a retaining good ones can be one of the hardest parts of the being the employer. And it is ESPECIALLY harder when the government is competing against you with unlimited money to hand out.

 

There is nothing myopic at all about it, the jobs are back a record number of unfilled jobs. Covid is over go back to work either the job you have previously at that pay or use the glut of jobs to get a better one. Stop living off the labor of other people.

 

I know that was the fact in April, we will see if it has shifted soon.

Yes, it has rebounded from the pandemic nicely.

I am a pragmatist, the glass is half filled.

I know people that have taken the extra money and not looked for work, so they are out there.

It was just this month dropped to $300 extra, it had been $600 for most of the pandemic. And that is on top of what the state was giving a person.

 

I'm sure you didn't intend it this way, but to folks who aren't currently working, that kind of comment sounds a whole lot like "suck it up and accept whatever crappy, low-paying job you can find, ya lazy bum." I know people who are choosing to stay at home, collect unemployment, and work on their own projects. But I also know people who realized that they're worth more than the jobs they could easily get would pay them. They're looking for work, but only from places that will pay them a salary they feel reflects their value.

 

Traitors are using a shortage of American workers as an excuse to open the border.

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Why would anyone go to work when they are sitting at home and in many cases collecting more than they would make?

We do not need Scooby and the gang to solve that mystery.

 

From where comes your moral obligation to pay me more than what we mutually agree is an appropriate wage?

 

It's happening all over the West, not just in America. It's an unexpected side effect of 2020.

 

I reject the premise that taking a minimum wage job is the same as agreeing that the wage is appropriate.

 

That's easy to say, sure, there's always some that will, no doubt, refuse to work, where it gets more complicated is to assert causality of the labor shortage, and there is no evidence of it, just supposition to forward a particular narrative.

That a sudden surge in demand for labor in the economy is occurring, and with 6 plus points surging on GDP, occam's razor tells me that that big of a surge will logically result in straining the labor market, temporarily, until it reaches a plateau.

It stopped being $600 way back last year in September, as I recall. That blows that thesis right out of the water. Who can live on that?

 

But we all know that the supply of labor is there, so the sudden surge should not be hard to fill.

Nope, it stopped being 600 in March of this year. And do not forget, that money is on top of what the state already gives.

 

Well, looks like the May jobs report fell flat. Still better than April, but well below expectations.

Job creation accelerated in May but still below lofty expectations

 

Not really flat at all, but not as good as was hoped. The ADP number was well above the BLS.

The UE going down was a good sign. Plus it is the preliminary numbers

 

112K below expectations, yet .01% better than forecasted UE. That makes little sense to me.

 

"Violate the laws of basic economics"??? That's hilarious!

Why would all other salaries necessarily have to go up? Whether they do or not is purely an HR matter.

Show us the Economics textbook where you get this nonsense!

I'll tell you right now, that's bull crap! Labor cost might go up. Whether that increases product cost, prices or... anything else... depends on each individual company. There is no "textbook" that states that EVERY company needs to "exorb"... whatever that means!... or do ANYTHING different.

Please stop wasting our time. If you have something to say, make some sort of argument! If you don't have anything to contribute to the debate, then spare us your nonsense!

Businesses that have a competent administration will use their extra cash to raise salaries and retain their workers. Those that don't do that and prefer to pocket their "new cash" instead, will lose them to those companies. Easy as that!

Everything you purchase DOES increase, regardless of minimum wage or not.

Companies that have a competent management are used to dealing with inflation. And inflation may come because of MANY factors: global warming, a financial crisis, labor problems in China (or other nations).... you DEAL with them. Increasing the federal minimum wage so that everybody makes a living wage is just one more of those many factors. Competent business owners DEAL with them. We deal with them all the time. The huge advantage of an increase in the minimum wage is that the problem is also a solution. The increase in costs is offset (partially or completely) by the increase in consumption. So what we have is growth. And we have less poverty. And we have a stronger middle class.

They would benefit my business as much as I would benefit Wendy's if they hired me to flip burgers.

Did you have a point?

 

Of course! Dear God! How do you explain the complexities of how the economy works to somebody this clueless. EVERYTHING affects wages. In fact, everything affects EVERTYTHING. Even when Elon Musk makes a comment about dogecoin there is a ripple effect that affects parts of the economy! The economy is a system. And a very complex one. Obviously too complex for you to comprehend. And for me to explain to you in a political forum. You need to start with basic courses in economics. Then advance from there, and maybe do an internship with a company in which you could be close to management.

But to try to explain this to you is like trying to explain how government works to the Viking-hat guy in the capitol insurrection!

 

My my, getting all personal and attacky now.

Seems you know you have ran out of fantasy points to parrot and have moved to a new tactic.

 

Well prior to when I retired and throughout my working life when I didn't have a job I "sucked it up" and got one. My first one working in a saw shop cutting sheetrock and lumber and unloading boxcars of such out in the open in 99F temps with 99% humidity and below freezing weather. So spare me the "well it's just too tough let someone else support them" argument. And if you want to sit home and assert that you are just to good to go to work then do so on your own dime and don't expect those who do work to support you. And the fact remains there is a GLUT of good paying jobs and employers begging people to come fill them. Again another month of the jobs numbers falling below expectations.

And BTW, your worth in the workplace is only worth what someone else will pay you.