Being part of the retail world for 20+ years, wasn't really hard until now. Every where you look you see a now Hiring sign in the window and all of them seem to have to put a dollar amount on their signs.
Source
Now some people may think this is a good thing, but they couldn't be more wrong. More people hiring equals less to hire from.
Now every year I have to hire berween 15 and 20 new employees to work from November 1st through January 1st. Never before have I had a problem reaching those numbers, this year I have Hired 3. All three of those where hired at a payrate higher than what we normally start part timers off at, ($10.45 is our start for Part timers). Now this cant be just a problem with my company, it has to be retail company wide. So what does all this mean? It's simple you have to pay them more than what you planned on paying them or Budgeted to pay them. Budgeted being the magic word in that sentence, see once you go over budget, then the problems start. Over budget means less profits,,,, you see where this is going? It's a death spiral, the work force is in control of what you pay them.
So I had to quickly educate myself on some labor statistics. Boy was I shocked at what I found. Take a look at this chart.
Source
Look at the bottom figure....35.2 % of people who are able to work, do not want to work. This just completely blows my mind. Then I found this statement from the same article...
- the unemployment rate is just one indicator of how the U.S. economy is doing, and it’s not always the best one. Simply being out of work isn’t enough for a person to be counted as unemployed; he or she also has to be available to work and actively looking for work (or on temporary layoff). In any given month, the unemployment rate can rise or fall based not just on how many people find or lose jobs, but on how many join or leave the active labor force.
So see we are really dealing with a 38.2% unemployment rate, if we counted the group that doesn't want to work. Here is another good point
- As many observers have pointed out, the official unemployment definition leaves out some significant groups. The underemployed – part-time workers who would prefer to work full-time – are counted among the employed. And discouraged workers – people who’d like a job but have stopped looking because they don’t believe any work is available – aren’t counted as part of the labor force at all.
So Basically if you have given up on finding work, then you are not included in the 3.2 % unemplyment number.
- Since 1945, the official definition has been that to be considered unemployed, you must not only not have a job but be available for work (i.e., not too sick to work) and have actively looked for a job in the past four weeks. If you’re neither employed nor, according to the official definition, unemployed, you’re not considered part of the labor force.
So with the above 3 statements, do you still think the unemployment number is real? So whats the answer? I don't know. What I do know is this, they economy can not just pay people what they want, just to be able to hire people. This is a disaster waiting to happen.
Source
Check this fact out that I found once I googled baby boomers.
- They’re Supporting their Adult Children.
A recent survey from the National Endowment for Financial Education found that 59% of Boomer parents provide financial support for adult children aged 18 to 39.
Should you even be able to say "adult children" I mean what is that exactly? They way I see it is if you still live with your parents, then you still need to be parented, which means you are not an adult yet.
Here is another Fact, 10,000 Baby boomers are leaving the work force everyday. So that means that the United States would need to create 300,000 jobs a month for there not to be a deficit between those that are leaving and those that are starting in the work force.
Plus remember 59% of the baby boomers are taking care of their adult children. What a freaking mess, hard times are ahead for us.
I am going on record to predict this, 4th quarter profits will come in less than expected. Also you will see more and more jobs being replaced by automation or online services.
WAKE UP! IT'S NOT BAD YET BUT IT WILL BE!!!
sorry for the longer than normal nonsense post.
Thanks for stopping by
@raybrockman
Open up the Borders!
Well, not sure if it would help. I THINK it is past the point of being fixed. Thanks for stopping by @cyberblock
What’s gunna happen then? Economic collapse?
I like posts like this Ray. The way I look at the World is I was an employee for like 35 years of my life. I would go back and be an employee only if I enjoyed what I was going to do with a passion. That being said if you have a Passion make that your OWN Business, then you don't have to be an Employee.....I could tell you more but at this point its not important.
I BUY Silver whenever I have too many of those Federal Reserve DEBT Notes......
Oh how I wish I could @stokjockey, would love to hear more one day.
We are struggling to hire as well...turnover has also been impacted as wage creep sets in
It is the worst I have every seen! Their paying $12 an hour at Moe's to wrap a burrito.🤔
@raybockman I remember when I learned about how we calculate unemployment from Rush Limbaugh and could not agree with his take more. Basically, when you stop counting those people at that point you take away any reason for them to even try to look.
I hate to say this but I think that a lot of baby boomer parents are part of the problem that created the difficulty to find workers now. They didn't want their children to want for anything so they provided everything and still continue to do this. That removes all expectation of accountability, which enables them to continue living off someone else. Then the lie that they are all "special" and deserve $15 an hour no matter their skill level and you effectively have people not willing to work at all.
Thanks for the great article!
I am waiting to see the 1st sign that says $20 an hour. It is a entitlement that has gotten way out of hand. Thanks for stopping by @dwingsworld. 😎👊
This is some really interesting research Ray. Glad you pulled it up! I'm jobless right now. Haha.
This post is supported by $19.6 @tipU upvote funded by @silver-hammer :)
@tipU voting service guide | STEEM Monsters Lottery | Quick SBD <-> STEEM Exchange | For investors.
Thank you for your continued support of SteemSilverGold
Nice write up @raybrockman. So many more forces at play with these numbers. You also have to include the Birth/Death model and labor force participation to get a clearer picture. One statistic shows that baby boomers are re-entering the work force at an alarming rate because the retirement they were promised isn't worth as much anymore. One day it will all blow up, I'll be here waiting.
Great article Ray! I agree that rough times are ahead and I think all us stackers will be much more prepared when things get rough. It is crazy to think how some jobs are getting outrageous pay/hour. My father worked in a factory for 30 years and he was making $20 an hour during the week. It was considered a skilled job, but now in some places you can about get those wages in fast food restaurants. I think as wages increase, we will continue to see more automation. Even in smaller cities fast food establishments are already putting in machines to replace cashiers. Rough times are ahead for sure.
Well. It ain't any different here my friend. We have about 23%of the population on welfare of some kind and another 11% or so on "subsidized income". Which is welfare. Then we have a whole lot of seasonal arctic workers who collect "employment insurance" all winter.
All said, I think Canada has a Labour participation rate among the worst in the world.
Then there's the the 30%or so that bust our bodies, work 60-70 hrs a week, to pay for it all.
Canada is not the socialized utopia it is made out to be....
Still, I'd rather be here in the prairies than anywhere else.