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(CNBC)   Pay workers more and execs less and watch how fast things get better for all   (cnbc.com) divider line
    More: Obvious, Economics, Labour economics, Employment, Labour market flexibility, workers rises, Jacob Mincer, Beveridge curve, labor shortages  
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853 clicks; posted to Business » on 20 Oct 2021 at 9:05 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



28 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-10-20 8:32:57 AM  
We don't have a worker shortage, we have a low wages problem.  Pay better wages and you'll get all the workers you need.
 
2021-10-20 8:37:52 AM  
There are millions of jobs, but a shortage of workers:

Shut the fark up. Who do you think is still buying that bullshiat?  Is the article monkey stuck on repeat? Are you farkers scared to throw up some real journalism for a change?
 
2021-10-20 8:39:06 AM  

koder: There are millions of jobs, but a shortage of workers:

Shut the fark up. Who do you think is still buying that bullshiat?  Is the article monkey stuck on repeat? Are you farkers scared to throw up some real journalism for a change?


The rich people who own all the news media are committed to their "blame the poor" narrative no matter what.
 
2021-10-20 8:41:49 AM  

Weaver95: We don't have a worker shortage, we have a low wages problem.  Pay better wages and you'll get all the workers you need.


In *some* cases we do have a worker shortage in that Boomers have held on to management positions for so long the lack of turn over has created a gap in the number of people qualified because they hit ceilings and quit or changed career paths entirely.  The big problem they have there is that you can't H1B yourself out of that particular fiasco.  Their "we got ours go f yourself" mentality is going to cause issues for a decade or more.
 
2021-10-20 8:44:24 AM  
encrypted-tbn0.gstatic.comView Full Size


Think of the shareholders!  Won't somebody think of the shareholders?
 
2021-10-20 9:06:31 AM  
Oh come on now, subby.  That's just crazy talk.
 
2021-10-20 9:15:03 AM  
Ayn Rand would disagree with subbys headline.

I tried to watch Atlas Shrugged for the first time. Never read the books. The first movie had some cringe but was watchable. The nonsense at the end about how treating the workers fairly led to the invention that could save the world being abandoned was the most cringe. The inventor would rather have nothing instead of a smaller piece of the pie. Facepalm. Then the second movie took off with that theme. Everyone would rather have nothing and murder half the world rather than have a smaller piece of the pie. Double facepalm. I had to stop watching the nonsense 1/2 way into the second movie.

People actually buy Ayn's delusions. Triple facepalm.
:(
 
2021-10-20 9:17:48 AM  

Angry Drunk Bureaucrat: [encrypted-tbn0.gstatic.com image 225x225]

Think of the shareholders!  Won't somebody think of the shareholders?


This.
And C-level pay in stock, and based on stock price.  These are what are called perverse incentives.  Short-term positives for a few, ling-term negative for all.
 
2021-10-20 9:18:57 AM  

dionysusaur: Angry Drunk Bureaucrat: [encrypted-tbn0.gstatic.com image 225x225]

Think of the shareholders!  Won't somebody think of the shareholders?

This.
And C-level pay in stock, and based on stock price.  These are what are called perverse incentives.  Short-term positives for a few, ling-term negative for all.


Close the damned tag, dicknut!
 
2021-10-20 9:21:21 AM  

dionysusaur: dionysusaur: Angry Drunk Bureaucrat: [encrypted-tbn0.gstatic.com image 225x225]

Think of the shareholders!  Won't somebody think of the shareholders?

This.
And C-level pay in stock, and based on stock price.  These are what are called perverse incentives.  Short-term positives for a few, ling-term negative for all.

Close the damned tag, dicknut!


Fark user imageView Full Size


Won't somebody please think of the dicknuts!?
 
2021-10-20 9:23:20 AM  
Like that would really happen.
 
2021-10-20 9:37:18 AM  

DoBeDoBeDo: Weaver95: We don't have a worker shortage, we have a low wages problem.  Pay better wages and you'll get all the workers you need.

In *some* cases we do have a worker shortage in that Boomers have held on to management positions for so long the lack of turn over has created a gap in the number of people qualified because they hit ceilings and quit or changed career paths entirely.  The big problem they have there is that you can't H1B yourself out of that particular fiasco.  Their "we got ours go f yourself" mentality is going to cause issues for a decade or more.


I have been assuming the pandemic accelerated the baby boom generation's move to retirement.  I haven't seen anything about this in the news, but haven't been looking for it either.  My ex was lamenting that lack of mentoring and effort to keep new hires for the long term in her career, just before pandemic and other career challenges helped her decide to retire as well.
 
2021-10-20 9:47:33 AM  
TL;DR:

1. A few hundred thousand extra people are dead, and presumably no longer working.
2. Boomers are starting to enter retirement age in large numbers, so more people than usual are retiring
3. Some Boomers are retiring early after covid made them realize how much they hate going into their place of work
4. A lot of people rearranged their lives and now have a single primary income instead of both parents working and having to pay boatloads for childcare and before/after school care
5. Young people are opting for education and training
6. Fewer immigrants are around to fill low-skill low-wage low-security jobs and nobody else is in a rush to be an underpaid and easily replaceable employee in a dead end job.
 
2021-10-20 10:06:21 AM  
Fark you, you farking peice of shiats economists.

If raising wages on middle and lower class workers would be responsible for inflation, how do you explain the inflation we've had over the past 40 years while wages were stagnant?
 
2021-10-20 10:19:49 AM  
Ah yes. A year ago we were told that $15 should be the new minimum wage and then people would go work. Nearly every posting in town is over $17 and everyone is still sitting at home. But sure, blame the mean executives.
 
2021-10-20 10:31:02 AM  

great_tigers: Ah yes. A year ago we were told that $15 should be the new minimum wage and then people would go work. Nearly every posting in town is over $17 and everyone is still sitting at home. But sure, blame the mean executives.


Who told you that? The minimum wage should be $24.

https://theintercept.com/2021/03/05/mi​nimum-wage-raise-15/
 
2021-10-20 10:49:48 AM  
*shrugs* A lot of companies are doing just that, hourly wages are up 60% at my factory over the last 2 years, meanwhile all management salaries were frozen for one of those years, and both of those years for middle and upper management.

We're getting a decent number of new workers, but our three biggest problems are that our products have been flying off the shelves during this pandemic, so we're having to ramp up production, supply issues of our own, and the fact that there just aren't enough available good workers in the area looking for factory jobs... That field was dominated by older people who got into factory work back when it paid really good and stuck with it through automation.
 
2021-10-20 10:50:12 AM  

great_tigers: Ah yes. A year ago we were told that $15 should be the new minimum wage and then people would go work. Nearly every posting in town is over $17 and everyone is still sitting at home. But sure, blame the mean executives.


The minimum wage is only for part time workers. That just want extra income. It is not for a person to live on. People trying to live on only minimum wage is a new reality.
 
2021-10-20 11:36:24 AM  

great_tigers: Ah yes. A year ago we were told that $15 should be the new minimum wage and then people would go work. Nearly every posting in town is over $17 and everyone is still sitting at home. But sure, blame the mean executives.


Well, $17 is not enough then.  Perhaps those execs should get over their feeling of entitlement and consider paying the market clearing price for labor if they need these workers so badly.
 
2021-10-20 11:44:49 AM  

OptionC: great_tigers: Ah yes. A year ago we were told that $15 should be the new minimum wage and then people would go work. Nearly every posting in town is over $17 and everyone is still sitting at home. But sure, blame the mean executives.

Well, $17 is not enough then.  Perhaps those execs should get over their feeling of entitlement and consider paying the market clearing price for labor if they need these workers so badly.


It's pretty obvious. If you can't find workers for your project, you aren't paying enough. If I want my yard cut, I have to pay enough to get someone to do it. I don't get to set the price I will pay. It'd be nice to get it cut for 10 bucks but the 1950's are over.
 
2021-10-20 12:29:55 PM  
watch-how-fast-things-get-better-for-​a​ll

Well, not for thew execs.
 
2021-10-20 1:09:39 PM  

TaDu: DoBeDoBeDo: Weaver95: We don't have a worker shortage, we have a low wages problem.  Pay better wages and you'll get all the workers you need.

In *some* cases we do have a worker shortage in that Boomers have held on to management positions for so long the lack of turn over has created a gap in the number of people qualified because they hit ceilings and quit or changed career paths entirely.  The big problem they have there is that you can't H1B yourself out of that particular fiasco.  Their "we got ours go f yourself" mentality is going to cause issues for a decade or more.

I have been assuming the pandemic accelerated the baby boom generation's move to retirement.  I haven't seen anything about this in the news, but haven't been looking for it either.  My ex was lamenting that lack of mentoring and effort to keep new hires for the long term in her career, just before pandemic and other career challenges helped her decide to retire as well.


I've been lamenting the mediocre to non existent on boarding at companies I've worked at since I entered the workforce. Too many places not only demand you train yourself or get fired, the senior staff has the attitude of 'We DARE you to succeed.' Which was the norm when you have a labor surplus and you can threaten people into complianour.

Surprisingly, it's not a great long term strategy as everyone who felt a 50% annual turnover was just the cost of doing business is finding out.
 
2021-10-20 1:41:52 PM  
I look at it this way. We have an overabundance of part-time poverty level jobs with such erratic hours someone can't possibly string together two jobs to make ends meet.
 
2021-10-20 2:35:02 PM  

hamsack: watch-how-fast-things-get-better-for-​a​ll

Well, not for thew execs.


Except hiring these people at decent wages means you'll get the things done that you need to get done so that you can make MORE money for executives and stockholders.

The bottom line WILL look better eventually, but that doesn't seem to get through stockholders' skulls. Or so-called executives' skulls.
 
2021-10-20 2:38:45 PM  

mcmnky: great_tigers: Ah yes. A year ago we were told that $15 should be the new minimum wage and then people would go work. Nearly every posting in town is over $17 and everyone is still sitting at home. But sure, blame the mean executives.

Who told you that? The minimum wage should be $24.

https://theintercept.com/2021/03/05/mi​nimum-wage-raise-15/


The numbers are all WRONG.  And it should be in Rubles, not dollars.  Then you would have all of the freedom.  Everything the government did would work, all of the time.  And you would never lack for anything you wanted or needed, ever.  If you think that you want something that you do not have, you may be used as reactor shielding.
 
2021-10-20 3:01:22 PM  

Weaver95: We don't have a worker shortage, we have a low wages problem.  Pay better wages and you'll get all the workers you need.



pay peanuts and you get monkeys.
 
2021-10-20 3:02:11 PM  

Weaver95: koder: There are millions of jobs, but a shortage of workers:

Shut the fark up. Who do you think is still buying that bullshiat?  Is the article monkey stuck on repeat? Are you farkers scared to throw up some real journalism for a change?

The rich people who own all the news media are committed to their "blame the poor" narrative no matter what.



yep

since the 1% has been Chosen by God, they are above reproach.
 
2021-10-20 3:03:56 PM  

mcmnky: Fark you, you farking peice of shiats economists.

If raising wages on middle and lower class workers would be responsible for inflation, how do you explain the inflation we've had over the past 40 years while wages were stagnant?



that's just it.  they can't explain it without indicting themselves.   they have cookie crumbs on their hands and the cookie jar is missing.
 
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