Blame it largely on the pandemic, which weakened the hold the workplace held on people’s psyches
By outward appearances, the labor market today looks much as it did before the pandemic. The unemployment rate is just as low, the share of adults in the labor force is just as high, and wages are growing at roughly the same pace after inflation.
But beneath the surface, the nature of labor has changed profoundly. Career and work aren’t nearly as central to the lives of Americans. They want more time for their families and themselves, and more flexibility about when, where and how they work.
The impact of this change can already be seen in both individual companies and the broader economy. It has led to a persistent shortage of workers, especially in jobs that seem less desirable because, for example, they require in-person work or fixed hours. That, in turn, has altered the bargaining position of employers and employees—forcing employers to adapt, not just by paying more but giving priority to quality of life in job offers.
To be sure, some of these changes arise from an exceptionally tight labor market. If unemployment rises, some of employees’ newfound leverage may evaporate.
I think the issue is with slave wages and not being able to survive on one job. I understand that this is a rampant problem.
But I’m so glad for you that this serious problem does not apply to you.
I don’t understand why this is the prevailing sentiment here. Almost everyone here is computer savvy and more than likely most people here either work in high tech high paying industries, or at least decent paying and probably use computers somehow. So why is everyone saying you need two jobs? That might be true for the population on average but it would seem not to apply to people here.
I hear you, and thank you for that point.
I was thinking about the average, however, and trying to speak on their behalf.
You’re right, it doesn’t apply to me. I pay my employees decent wages.