Economist explains why there are so many job openings 1

Economist explains why there are so many job openings

 

Wages are going up as companies struggle to fill open jobs. Nela Richardson, Chief Economist at ADP Research Institute, explains to CNN Business's Alison Kosik why these increases might not be enough to attract new hires.

This interview is from our show "Markets Now". Watch the live digital show every Wednesday 12:45 p.m. to 1 p.m. ET., and get the latest news on the most important investing stories of the day as they happen:

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69 comments

  1. What a load of crap! The only thing that will change is that executives will make a few less million dollars a year in bonuses. But the stock price goes up so it’s a wash. I’m tired of hearing reasons why people shouldn’t be paid a living wage.

    1. @Zexion Almasy, nope…minimum. For you I would only charge $150 an hour. That’s a deal for my services. 🙂

    2. @Zexion Almasy more than $250 a week that’s for sure. If we only pay them $1,000 a month then that’s all the corporation has to pay And since they don’t pay any taxes that’s the end of it. But because those people had $1,000 a month you need assistance in order to pay for housing food etc etc we taxpayers get to pay for them. Going by inflation and the general cost of things federal minimum wage should be $24 an hour.

    3. @Hard Boiled Mahoney Ah, I understand now. A ‘Living Wage’ is calculated based on the current mood, not a Cost of Living. Thank you once again for clarifying.

    4. @Zexion Almasy and as a CNC machineist, I should be making about $45 an hour instead on 21. The problem is wage stagnation Nationwide except for the people at the top of the corporations. The problem is not the people who want to work but don’t want to work and also have to beg for assistance.

    5. @Michael French Companies pay all legally obligated taxes, that shows why the Tax law is stupid and needs to be redone.

  2. Y’all told low wage workers “if you don’t like your job then quit, or find a new one” so they did and now everyone is bitching about it. Treat people like humans and pay them a wage they can actually survive off of then we wouldn’t have this problem.

    1. @Nando Lack of motivation has nothing to do with it.
      Your last name has everything to do with it.
      We all know a boss that has his kid in the highest paying position with zero experience.

      We all know a supervisor that can not even do the job they are in charge of. The only reason they have that position is because of WHO they know and not WHAT they know.

    2. @Elmosweed , God didn’t tell you anything . But God words in the Bible said Micah 5: 13Thy graven images also will I cut off, and thy standing images out of the midst of thee; and thou shalt no more worship the work of thine hands. 14And I will pluck up thy groves out of the midst of thee: so will I destroy thy cities. 15And I will execute vengeance in anger and fury upon the heathen, such as they have not heard.

    1. You’re advocating for the collapse of the entire economy. 99% of businesses in the US are “small businesses” and cannot afford to pay a Jumbo Wage.

  3. Employers lost money during the pendemic but so did workers. Employers are too greedy, unwilling to compromise, RAISE prices, but REFUSE to raise wages. “U reap what u sew”. This is Capitalism for u. Job creators are the high & mighty. They NEED to humble themselves.

    1. Seems to me like capitalism is working great. No one wanted to work for the lower wages so they didn’t. Now the company is forced to revise their business model or find some one willing to do the job at that wage. Capitalist and conservatives have been saying this for years…if you don’t like the job go get a better one.

    2. @My Boy Cyrus why…there’s so many options. Why not just skip the school debt and pick up a trade or an apprenticeship.

    3. So your assumption is all business owners are high and mighty Clearly you’ve worked at a gas station your whole existence

  4. The problem is these jobs that are hiring they are not paying any real money. Plus a lot of these jobs are getting rid of full-time positions they only have part-time positions and some of these hours that they are giving out are only like 12 or 15 hours a week.. who can survive off of little pay and with 12 hours a week? Not too many people can. These companies.. these big retail companies can afford to pay their employees actually $25 an hour but they’re not going to do that they have to keep below the management pay and that’s how they control them

  5. Thay are hiring but not giving employees full time hours thay are cutting them to under 32 hours and under 32 hours is part time

    1. That happened after the ACA OBAMA CARE was passed.  Either you’re entering the job market or you were completely clueless.

    2. @Priest Fulton J Wingba JR Kinda message is that? I want him to come down in a chariot of fire and personally hand it to me himself.

    3. theres so many job openings because unemployment is paying people 800 a week..they are paying u to stay home

    4. and that is the problem, they are so damned greedy, they are taking away the incentive for people to show up to work

  6. They want you to have lots of experience or education or both and then they want to pay you garbage wages. Here’s an idea, cut CEO/executive/upper management pay. Of course the corporations want to raise prices. Greed never dies.

    1. @Ricky Powers Not everyone can qualified for that. Even if it does, I bet its dark money involved

    2. @Ricky Powers Besides why defending corporations imstead of your own best interest as a common person, whether or not if trade is involved?

    3. @John Ocasio My point is; Your employer doesn’t HAVE TO respect you and you don’t HAVE TO work for him. Mine didn’t respect me, so I left and became more independent and wealthier.

    4. @John Ocasio Don’t work for people who don’t respect you. Just tell them “no thanks.”

    5. @John Ocasio Employers only get away with disrespecting employees because the employees don’t leave him…

  7. EITHER PAY YOUR EMPLOYEES FAIR LIVING WAGES OR YOU JUST MIGHT FIND YOURSELF OUT OF BUSINESS BECAUSE OR YOUR GREED SO THE CHOICE IS ON THE EMPLOYERS!! WITH ALL THE MILLIONS OF JOBS OPENED NOW, PEOPLE HAVE OPTIONS & DON’T HAVE TO JUST SETTLE FOR LESS ANYMORE!!

    1. @Pedro The Mexican I’M FROM MANHATTAN NEW YORK CITY & CAN STAND ON THE STREET PANHANDLING & MAKE MORE THAN MOST AMERICANS MAKE A DAY AT WORK IF I HAD TO GO THAT ROUTE WHICH IS PITIFUL AS HELL WHEN SOME PEEPS ONLY GET $7.25/HOUR!! WHAT MAKES ALL THIS FUNNY TO ME TOO IS THAT JOE BIDEN IS AGAINST $15/HOUR & INFRASTRUCTURE & THIS IS WHERE WEST VIRGINIA RANKS:
      50TH IN INFRASTRUCTURE
      48TH IN ECONOMY
      47TH IN HEALTHCARE
      45TH IN EDUCATION
      #1 PER CAPITA IN DRUG OVERDOSES
      HMMM, SOUNDS LIKE THEY NEED ALOT OF HELP HUH ESPECIALLY SINCE THOSE FOOLS VOTED 68% FOR TRUMP & STILL AIN’T SEEN ANYTHING TRICKLE-DOWN BUT MORE PISS & SHT!!

    2. @HydrogeNuke IF THEY PRINT MORE MONEY THEN THEY PLAN ON THAT SAME MONEY COMING RIGHT BACK TO THEM THEN RIGHT??
      HELL, EVEN IF SOMEONE SPEND ALL THAT MONEY ON WEED ETC.ETC. EVENTUALLY SOMEONE IS GONNA BUY SOME FOOD OR A T.V OR A CAR OR SOME MO’-MORE JORDANS & TIMBERLAND BOOTS & THAT INCLUDES TAXES TOO HUH?? WHICH MEANS IT WENT RIGHT BACK TO THE GOVERNMENT!! THESE DAYS I KNOW BROTHA’S WHO WORK & HUSTLE TOO!!

    3. @Pedro The Mexican AMERICA ALWAYS CLAIMS TO BE THE RICHEST NATION ON EARTH BUT WE LEAVE OUT THE PART THAT WE ALSO HAVE AN ESTIMATED 600,000 HOMELESS & AN ESTIMATED 2.12 INCARCERATED SO BASICALLY HOMELESS BUT I BET IF THEY HAD A GOOD PAYING JOB THAT # WOULD LESS THAN HALF OF HALF OF THAT IF NOT MORE!!
      WHY DO MOST PEOPLE SELL DRUGS=LACK OF JOBS & PLUS THEY CAN MAKE MORE STANDIN’ OUT HUSTLIN’ ON THA BLOCK & THEN AS SOON AS THEY CATCH A DRUG CHARGE, THERE GOES FUTURE JOB PROSPECTS, SO GUESS WHAT, LEMME KEEP HUSTLIN’ ON THE BLOCK BECAUSE WITH A DRUG CHARGE, THERE GOES HOUSING ASSISTANCE & FOOD STAMPS TOO!! AN ENDLESS CYCLE BUT HEY, MAYBE THAT CEO YOU JUST HOOKED UP WILL CALL YOU BACK ASAP!!

    4. I USED TO LAUGH AT TRUMP NOT BEING ABLE TO UNDERSTAND THAT WALL STREET HAS NOTHING TO DO WITH THE ECONOMY BUT HE THOUGHT EVERY NEW HIGH WAS BECAUSE OF HIM!! HMM, WALL STREET IS EVEN HIGHER NOW BUT THERE’S STILL MILLIONS OF PEOPLE STILL UNEMPLOYED HUH?? TO THE POINT EMPLOYERS ARE LITERALLY BEGGIN’ PEOPLE TO COME BACK TO WORK & SOME PLACES ARE OFFERING BONUSES JUST FOR FILLING OUT AN APPLICATION!! WHOSE IN CHARGE NOW??

  8. What if Owners, CEOs, CFOs and all other “C” level and Director level take less to absorb the cost of higher wages for all? Bottom up get paid top down take a little less. All will survive just fine.

    1. @Rice Burner
      My cynical remarks had another measured statement.
      There are deranged people on this planet that still believe Trump is president.
      And in Jewish Space Lasers…

  9. It is well known when people have disposable income they tend to spend more thus increasing the benefit to the economy as a whole. People are tired of doing the hard work while the upper management get a safe and clean working environment, benefits, personal time, months of paid holidays, insurance, and 8-4 weekdays with weekends off, sit around while trying to figure out how to increase bonuses for themselves and justify another 10-20% pay increase each year. People payed well have more pride in what they do, as they know their worth and want to be paid for it now.

  10. Homeless people standing on the street corner make more money asking for donations than what these employers are willing to pay their workers. Stop the greed!

  11. Cause they trying to force us into slave labor! I’m in NYC & they offering jobs for $10 or less an hour! one razor costs $6 here! Slice of pizza is $3.50, a sandwich is $11.. in Manhattan everything costs more than the other 4 boroughs of NYC!

  12. We don’t have a labor shortage, we have a WAGE shortage. Employers have been keeping slaves, the slaves no longer want to participate.

    1. @A T, the economy for those forced to accept starvation raises has already collapsed. Sometimes you have to tear things down to build them back better. And if those business owners can’t afford to pay their employees, they shouldn’t be in business anyway. You get what you pay for.

    2. Keeping slaves?

      Who’s forcing them to work there?

      And how can they afford to simply not participate?

    3. @Hard Boiled Mahoney Starvation wages? People don’t starve in the US. We don’t have shanty towns filled with tin houses or abject poverty. There are plenty of government benefits that people can take advantage of. And like I said by saying “if owners can’t afford to pay their employees (Jumbo Benefits), they shouldn’t be in business anyway” is advocating for the collapse of our economy because the number who can’t is massive. It’s massive!

  13. It’s not the fact that no one wants to work, it’s a fact no one wants to work for the shitty wages anymore. After a year and a half of very generous unemployment benefits people want more of that. Either match that or raise it more.

  14. Want higher wages? Too bad, Inflation. Inflation is never a problem in commodity markets though. Owning a home is no longer a possibility for most Americans, the stock market is literally pumped with tax dollars, but raising wages? Even with government subsidies? Nope. Inflation.

  15. I love economists, blaming Greedy employees for wanting a living wage, for an inflation surge that started long before any significant wage changes.

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