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Why aren’t wages rising rapidly if there are 6 million job openings?
Posted on 6/19/18 at 7:22 pm
Posted on 6/19/18 at 7:22 pm
Doesn’t such a large number of job openings (JOLT data is my source for this number) imply a shortage of workers, which economics tells us leads to a rise in price (wage)?
Indeed, wages are rising but sluggishly
Employers must expect the supply to change or something so they are holding off on upping wages
Indeed, wages are rising but sluggishly
Employers must expect the supply to change or something so they are holding off on upping wages
17
Posted on 6/19/18 at 7:23 pm to HailHailtoMichigan!
fox fake news
Posted on 6/19/18 at 7:24 pm to 56lsu
quote:
fox fake news
What would you call CNN, ABC, NBC, etc?
Posted on 6/19/18 at 7:25 pm to HailHailtoMichigan!
quote:Well, wages aren't perfectly elastic.
Doesn’t such a large number of job openings (JOLT data is my source for this number) imply a shortage of workers, which economics tells us leads to a rise in price (wage)?
A company will certainly pay more for an employee if they must, but there's still a max they will pay before the perceived return on hiring the employee is no longer worth the cost.
quote:No. This isn't bread.
Employers must expect the supply to change or something so they are holding off on upping wages
I might WANT to hire more people to for a particular business reason that I believe will improve my bottom line. So, quite obviously, there is a number at which hiring him is no longer beneficial to me. Then, I don't want to hire him anymore. And, I stick with my business as it stands.
Posted on 6/19/18 at 7:25 pm to HailHailtoMichigan!
There's either no one qualified for those jobs or the companies don't really want to fill them. Either way they'll use this as an excuse to bring in cheap foreign workers.
Posted on 6/19/18 at 7:26 pm to HailHailtoMichigan!
Consult your sources, then get back to us with the answer.
Posted on 6/19/18 at 7:29 pm to HailHailtoMichigan!
quote:
Why aren’t wages rising rapidly if there are 6 million job openings?
Younger workforce. Baby boomers are retiring, contributing to both the decreasing unemployment rate and flattening wage rate.
This post was edited on 6/19/18 at 7:30 pm
Posted on 6/19/18 at 7:31 pm to HailHailtoMichigan!
Im in commercial construction.
Although our workload has increased, our rates we can charge have not (yet) increased. If the demand for specialty subs keeps increasing then yes we will be able to charge more.
At that point, we will be able to pay our laborers more.
A business only has so much capacity.
Although our workload has increased, our rates we can charge have not (yet) increased. If the demand for specialty subs keeps increasing then yes we will be able to charge more.
At that point, we will be able to pay our laborers more.
A business only has so much capacity.
Posted on 6/19/18 at 7:31 pm to Bunyan
news. with a different view than fux news 
Posted on 6/19/18 at 7:32 pm to HailHailtoMichigan!
most plausible theories I've heard are some combo of geographic labor market monopsony + still pulling discouraged workers into the labor force
Posted on 6/19/18 at 7:33 pm to DEG
Boomers are lingering longer than expected. They are overpaid and jacking up all the healthcare costs for our younger guys due to a lifetime of bad habits.
A lot of em are literally being asked to retire with early pensions to get them the frick off the tit.
A lot of em are literally being asked to retire with early pensions to get them the frick off the tit.
Posted on 6/19/18 at 7:34 pm to HailHailtoMichigan!
Check the wages in Midland Texas. Truck drivers $150K. Sonic $20 per hour. ect.
Posted on 6/19/18 at 7:38 pm to 90proofprofessional
quote:
most plausible theories I've heard are some combo of geographic labor market monopsony + still pulling discouraged workers into the labor force
I think this is it, plus discouraged workers. Wages are rising in some industries but it is not broad based. There are a lot of underemployed people out there.
with that said, one of my clients is having a hard time finding anyone just to come in to interview. They have very specific hiring requirements though.
Posted on 6/19/18 at 7:39 pm to YumYum Sauce
quote:
due to a lifetime of bad habits.
Still better choices than subsequent generations. 70% of millennial will be obese by adulthood. Far higher than any other generation. Add to it the openeness to alcohol and drugs, no generation will impact healthcare costs like Mils.
Posted on 6/19/18 at 7:40 pm to HailHailtoMichigan!
hmmm it might be because businesses did exactly what they said they would do with the windfalls from ole Donald's tax plan
Owners and corporations took their tax cuts and used them for stock buybacks instead of investing in workforce.
the one time bonuses and small raises splattered to people got across this country amounted to dick compared to what corporations received in tax welfare.
Owners and corporations took their tax cuts and used them for stock buybacks instead of investing in workforce.
the one time bonuses and small raises splattered to people got across this country amounted to dick compared to what corporations received in tax welfare.
Posted on 6/19/18 at 7:50 pm to HailHailtoMichigan!
quote:
Why aren’t wages rising rapidly if there are 6 million job openings?
Wages from January, 2017 to January, 2018 rose faster than they have in the last 8 years (under Obama).
LINK
Posted on 6/19/18 at 7:53 pm to Cruiserhog
quote:Only in the unintelligent mind of someone like you does it mean reducing taxes is "welfare."
to what corporations received in tax welfare.
Posted on 6/19/18 at 7:57 pm to HailHailtoMichigan!
Because most things are bid in advance by six months to a year. We have a labor shortage to boot.
Until costs come up wages can't come up. It is that simple.
Until costs come up wages can't come up. It is that simple.
Posted on 6/19/18 at 7:59 pm to LSURussian
quote:
Wages from January, 2017 to January, 2018 rose faster than they have in the last 8 years (under Obama).
Why is that?
Posted on 6/19/18 at 8:12 pm to HailHailtoMichigan!
quote:
Why aren’t wages rising rapidly if there are 6 million job openings?
Employers are hiring underqualified employees and spending the money to train them.
That is what you do when there is a shortage of labor.
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