The great resignation? Ripples before the inflation rates destroys the economy?

stompix

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Quote from: sunsilk on November 19, 2021, 05:31:19 AM

I've understood that it's now time not just for these private companies to appreciate their laborers but as well as the government. If there will be more job openings that aren't filled, it will affect somehow the economy of these states since it's likely more about labour laws that aren't favorable to them.

Wait till the poeple run out of cash reserves and the governments stop giving away free checks to everyone.
People don't realize that just because you get a new job and the company who doesn't pay you enough gets out of business will still affect you, the one left producing will increase the price, there will be fewer goods on the market because of the offer and demand you will end up paying more than you got from your raise.
Everyone is screaming give us more money, how about you start your own business and pay your workers twice as the competition?
If companies pay too low they are shouted at, if they rise the price they are shouted at, if they go bankrupt everyone is cheering because they "deserved" it.

Quote from: avikz on November 26, 2021, 08:00:48 AM

But that's good. Companies who have capitalized on pandemic are now forced to shell out more money to retain or on fresh hiring. We are getting the benefits!

Yeah right, the world is full of benefits, what to bet that by the end of winter we will see a lot fewer job openings and twice as many poeple looking for a job? Without any serious raise in wages?

avikz

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Every company is seeing the impact of the great resignation. Inflation is one of the many factors for this incident. Since the beginning of 2020, Pandemic had shaken the job market. People were afraid to move out because many companies have stopped hiring, Bonuses were not rolled out, increments were not given, performance appraisals have not happened. Many companies have capitalized on the pandemic by depriving their own employees.

So now when the job market is firing up again, everyone wants to get a better paycheck. So existing employees are switching and companies are hiring to fill in the empty posts. This cycle is creating a ripple.

But that's good. Companies who have capitalized on pandemic are now forced to shell out more money to retain or on fresh hiring. We are getting the benefits!

wxa7115

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Quote from: sunsilk on November 19, 2021, 05:31:19 AM

I saw those posts about job hiring with desperation from those companies. At first, I don't understand why they're too stubborn of getting more employees if they're quite paying good. But after realizing that even if they put how much they pay for their workers, it's just that there's more people that are quitting these jobs.

I've understood that it's now time not just for these private companies to appreciate their laborers but as well as the government. If there will be more job openings that aren't filled, it will affect somehow the economy of these states since it's likely more about labour laws that aren't favorable to them.

What happens is that this is a response to the ridiculous hiring practices those companies have been implementing for a long time, sometimes I come across some job offers and it is ridiculous, they want to pay just a little above minimum wage and yet they want the person they are hiring to have all kind of certifications and experience.

As such anyone applying for that job is probably lying about their experience as the ones that have it are not going to step so low and accept such a low amount of money, so I am not really surprised companies are having problems finding candidates for the jobs they are offering when the pay is that awful.

sunsilk

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I saw those posts about job hiring with desperation from those companies. At first, I don't understand why they're too stubborn of getting more employees if they're quite paying good. But after realizing that even if they put how much they pay for their workers, it's just that there's more people that are quitting these jobs.

I've understood that it's now time not just for these private companies to appreciate their laborers but as well as the government. If there will be more job openings that aren't filled, it will affect somehow the economy of these states since it's likely more about labour laws that aren't favorable to them.

killerfrost

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So what can we do?

I know people here won't worry too much about money in the near future, the point is we see that, but it doesn't make much sense.

Work neither appears nor disappears, we live in an environment that will receive the conditions for existence. Although imbalance is always something that many people say, let's be more realistic that it is not the responsibility of each individual, but it depends on many factors, I myself just found that instead of fearing the Bad things are about to happen, do the best job you have.

Hydrogen

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The internet offers so many jobs and opportunities. Even if the economy is destroyed and hits rock bottom. I have to wonder if it won't rebound quickly.

Credit and liquidity could be tough to come by. Factors which could slow a recovery. Cryptocurrencies could offer all the credit and liquidity we need. If only the loan based aspect of crypto markets could be addressed.

We can't control whether or not a crash occurs. Perhaps we can begin building infrastructure platforms which make recovery easier to achieve.

People trend towards looking at past historical precedents as solutions. But it is possible current day science and technology give us better options we can utilize.

Silberman

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Quote from: TheNineClub on November 17, 2021, 11:14:28 AM

People quitting might be more due to workers having options. I see more and more people re-educating and by doing so, getting more oportunities to pick and choose. Also, alternative income options like part time work in tourism, or investing / working in crypto is giving workers options not to rush from one job to another, but rather take their time.

And one of those options was to stay home, do nothing and still receive some money, when compared the option of receiving still a low salary but now being on the front line against the pandemic the decision is easy, governments still do not seem to understand that incentives matter, and if they give people money for doing noting then this creates the incentive for people to not want to work as the expectation now is that the government will eventually give them money, other people see this and want the same creating a vicious circle from which it is difficult to escape.

kryptqnick

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I'd say from the list of jobs that it's due to Covid-19. Entertainment industry suffered very hard during lockdowns, so many people lost income there. As for government jobs, it might be due to stress associated with working during the pandemic (with people being very unhappy with how everyone does their jobs), and in some countries it might be due to obligatory vaccination for certain jobs, so those who aren't vaccinated are likely to go. Some who can get by without a job for a while might quite because Covid made them realize how fragile human life is and that you should spend more time with the people you love and doing things you want to do.
But I also wonder how representative this info really is and whether it is indeed a tendency in the US or even worldwide that people quite job and there are more offers than applicants.

TheNineClub

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People quitting might be more due to workers having options. I see more and more people re-educating and by doing so, getting more oportunities to pick and choose. Also, alternative income options like part time work in tourism, or investing / working in crypto is giving workers options not to rush from one job to another, but rather take their time.

Ucy

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Probably saw the news about the resignations last month or so, and I thought they were people quitting because of vaccines. I wondered why not ask those who don't want to be vaccinated to always use their masks as an alternative. I prefer a less obvious transparent mask rather than the cloth ones that sometimes feels like mask of shame. The less obvious masks could help lots of people get back to work without the need to be vaccinated. I think if the reasonable things were done without the Pro-vaccine/pro-mask and Anti-mask/anti-vaccine disagreeing unnecessarily they probably wouldn't be resigning in large numbers. If you don't want vaccine then make sure you always put on your masks.
I guess I'm bit qualified to speak about the US because I have learned alot about the culture (not too much about the politics) since my internet days. Almost traveled to live there years ago even though I never had the strong desire to travel out of my country to foreign countries like others.

Reid

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It would affect a lot. You cannot just sign one employee without the proper skill set that is required for the job.
This could be it, the fight for the fair salary of the frontliners even if there is no pandemic yet. Does it really need a statistical basis how much are not applying before they even move? That should be done already years ago or better decades ago and not because the pandemic hits us and the figures already shows the lack of needed workers.
I feel them, I have friends on that position and I can see how tired they are and some doesn't even have enough sleep and so stressed out and yet they are not paid right by the government while some who just sits behind their desk in an airconditioned room gets all the bonuses.

stompix

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Quote from: fiulpro on November 17, 2021, 10:16:50 AM

But this might be a good opportunity for the workers as well.

Yeah right...not!

Fewer workers now mean lower production, fewer goods fewer services, which triggers inflation, which triggers price rise, which makes workers want to have even higher ages, making companies delay hirings, delay productions....back to square one.
After you pay poeple for doing nothing, then some see that some industries with higher margins can afford to increase wages and demand the same which obviously can't be met, there is no surprise this mess will never cease.

Quote from: fiulpro on November 17, 2021, 10:16:50 AM

and the government not effectively increasing their salaries

The best thing the government could do at this point is to stay the hell out of it before it fucks up the whole economy beyond repair.

fiulpro

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A record breaking news where 4.4 million people quit in September is shaking the companies to their core. {According to Job opening and Labour Turnover Survey} This number accounts for almost 3% of employees. Workers apparently have more leverage to move around since out of 10 Job openings only 7 workers are applying. Most of these employees are actually Frontline workers. People who do not have the ability to work remotely are quitting.

https://www.cnbc.com/2021/11/12/a-record-4point4-million-people-quit-jobs-in-september-great-resignation.html

Apparently it's being ruled out that people are quitting due to Inflation (also they do believe there are no effective strategies to tackle inflation yet)

Also one is quite aware of the fact that the Frontline workers are paid the least. This might not be the good news that you think it is. Some people might blame it on discriminative labour laws, some might blame it on the COVID-19 undoubtedly.

But this might be a good opportunity for the workers as well. Is the economy going to collapse? With the markets shutting down due to lack of labourers and the government not effectively increasing their salaries, with the Frontline workers struggling and the US health care being ridiculous to the point that people might skip going to the medical care institution. What do you think? How would this affect the economy?

Topic: The great resignation? Ripples before the inflation rates destroys the economy? (Read 108 times)