More employers willing to hire and train inexperienced workers, and to pay a living wage

[jmbar2]

This is really great news!

While many sources are bemoaning "the worker shortage", employers are beginning to realize that we have plenty of workers, if they are willing to broaden their hiring criteria, train people instead of expecting someone else to shoulder that cost, and to offer a liveable wage.

This is a profound change in the U.S. labor markets that can lead to tremendous upskilling of the US labor force if it continues.

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Burning Glass Technologies, a firm that analyzes millions of job listings a day, found that the share of postings that say “no experience necessary” is up two-thirds over 2019 levels, while the share of those promising a starting bonus has doubled.

People are demanding more money to take a new job. The “reservation wage,” as economists call the minimum compensation workers would require, was 19 percent higher for those without a college degree in March than in November 2019, a jump of nearly $10,000 a year, according to a survey by the Federal Reserve Bank of New York.

https://www.nytimes.com/2021/06/05/upshot/jobs-rising-wages.html

[MOMFUDSKI]

1. Supply and Demand

and finally the low-paid workers realized they can control the supply by holding out for better wages/bennies. It is a good thing and a good start. A national general strike would be the ideal but that is so hard to organize.