Supply and demand is the name of the game! This applies to products and services…and workers! Right now hourly workers are VERY hard to find, so they have power when it comes to improving their situations.
Here are Five Fast Facts about the power of hourly workers:
- 📈The Great Resignation Continues - Since June 2021, over 4 million workers have quit their jobs every month. This has never before happened in American history. Twenty percent of American workers say they’re likely to look for a new job soon. Only 20%?!?!?!
- 😒It’s Still Not Enough - Due to the nasty inflation driving up prices on everything, even the real wage increases we’ve seen aren’t enough. In July, hourly earnings were 5.2% higher than in 2021…but inflation was up 8.5%. A real kiss-your-sister moment there, yippee.
- 💰The Jobs Keep Coming - American businesses added more than 500k jobs in July, and unemployment remains near a 50-year low. We’ll take it!
- 💪Feel The Power - One factor helping workers right now is just the threat of quitting. With the shortage of workers, businesses can’t ignore it. So, brush up on your bluffing skills and be ready to walk out for more cash!!!
- 🤝Unions Are Booming - Along with wage increases, workers are also pushing for improved working conditions. Union drives are up 58% over 2021, and Q1 of this year saw almost 2000 formal requests for union representation. No word on whether Guido will pay them all a late night visit to ensure cooperation.😲
🔥Bottom line: It’s great that jobs are available and that wages are going up. Now if we could just get the government to stop overspending and driving inflation, we’d be in business. Crazy thought, right? But we’ll take the higher Paychecks either way.
How have you been impacted by the current hourly worker situation?
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