#jobs #workforce #JobsNumbers #COVID19 #coronavirus #FlattenTheCurve
The 467,000 new jobs created in January 2022 were many times more than expected. Yet, “The Great Resignation” is leading people to quit jobs in large numbers. Perhaps, many are going to better jobs, or, at least, different ones.
Despite this good economic news, many have framed the current work/job environment as a case of generous benefits keeping people from looking – or taking – jobs. The January report should dispel that notion.
First, let’s dispense with the idea that people who are not in the job market are lazy.
For most, that’s hardly the case.
What people are doing now, that they may have not done before, is look at the costs, and the risks, against the rewards, of taking a particular job.
Though the COVID-19 pandemic appears to be waning – we could face a surprise new variant at any time, there are still risks to being up close and personal with others, especially where there are no rules or mitigations against viral transmission.
A sick worker is no good to either his or her employer or family. An unvaccinated worker is more likely to get sick and spread the virus. Not knowing whether the person next to you is vaccinated presents its own risk.
Secondly, presuming you have no ability to work from home – most in lower-paying jobs cannot work from home, you have to get to work.
You have to calculate how much of your paycheck is going to commuting. If it costs you a lot to get to work, and you don’t have enough left over after commuting costs to cover your other living expenses, that presents a disincentive to take a job.
Thirdly, if you have young children, and no means to care for them while you are at work, that presents yet another risk to taking a job.
Though most schools are staying open, some have periodic closings prompted by the virus. Perhaps too many students, teachers and staff are ill, or have exposure issues, and cannot be in school.
When too many people are absent, schools close, or go to online options. Of course it’s temporary, but it’s still a problem for a working parent.
The smaller number, and higher cost, of day-care options enlarge the problem for parents.
In short, the labor “shortage” we see is more complicated than government benefits that are too generous.
For some workers, particularly those whose spouse may earn a relatively high income, a worker may also find that his or her lower-paying job is generating an income that primarily pays taxes, and little else. There may be other reasons to hang in a job, i.e. benefits, pension credits etc. But, in some scenarios, one can easily put an entire paycheck into taxes alone.
Just as it may be hard for some employers to get enough people to keep his or her operation going, it may be just as hard for a worker to decide whether it is worth his or her effort to take a job.
In the long term, as birth rates decline and people make life choices that give them more flexibility, there will actually be a labor shortage. In that case, the only solution could be to allow more immigrants, refugees and others to come into the country. In fact, a recent U.S. Census report says the largest segment of population increase is coming from immigrants.
It’s no easy fix, but it is one that we all may have to fix together as a society. Jobs have to be more attractive. Services and solutions need to be available so workers can go to work without fear or worry.
Both employers and employees need to be part of any solution.
Peter
Tag Archives: workforce
IMMIGRANTS BENEFIT ECONOMY
#immigration #prosperity #workforce
Believe it or not, to quote the first line of a newspaper editorial, “immigrants are not the enemy.”
The Tennessean newspaper in Nashville commented on reports compiled by the bipartisan Partnership for A New American Economy showing how immigrants are contributing to the workforce, tax rolls and the overall economy, the editorial reads. It was published in the Aug. 14, 2016, edition.
In Tennessee, the newspaper says, 300,000 residents are foreign-born, or nearly 5 percent of the state’s population. But, they make up 6 percent of the state’s workforce, the editorial says. In 1990, immigrants made up only 1.2 percent of Tennessee’s population.
The editorial cites some notable stats from the report:
• Immigrants annually earn $7.9 billion, pay $493 million in taxes and have the spending power of $5.9 billion.
• They make up 7.8 percent of entrepreneurs.
• They are 32 percent more likely to work than the native-born population (57.8 percent of employed immigrants vs. 43.7 percent of employed natives.)
• Immigrants make up 7 percent of jobs in science, technology, engineering and math (the STEM skills).
Meanwhile, in an article published in The Atlanta Journal-Constitution Aug. 15, 2016, Tim Henderson of the Tribune News Service writes that many officials in small towns nationwide that have lost population in recent years are asking that refugees from the Middle East and elsewhere be relocated to their towns to take jobs they can’t fill, live in apartments and houses that are now vacant and to shop in local stores. The refugees will take the places of native-born residents who’ve moved elsewhere in large numbers.
Immigrants have basically gotten a bad reputation. Some see them as moochers, stealers of benefits and taking opportunities away from native-born Americans. The report, on which the Tennessean editorial was based, tells a different tale.
“(Undocumented workers) are demonized for their legal status, but overall they are giving back more to society than they are getting back,” the editorial says.
Undocumented workers, “though they don’t directly benefit from federal and state aid, but they annually earn $2.1 billion, pay $250 million in state and federal taxes and have $1.8 billion in spending power, “ the editorial says.
Immigrants do jobs native-born Americans won’t do. They are doing many highly technical jobs – not just manual labor – that relatively few native-born Americans are qualified for. Many get their training here, and overstay their visas.
The economic partnership that compiled the Tennessean report is aiming for sensible immigration reform.
It’s easy to blame immigrants, or something else, for one’s hard times.
It’s much more difficult to look for one’s own solutions to the hard times.
If you are looking for something to come into YOUR life that will change things for the betterment of you, there are many such vehicles out there. To check out one of the best, message me. You’ll see people from various races, and nearly all backgrounds, who have taken a step to turn their own lives around.
The economy is changing in ways that we can’t revert. One either has to accept that change and ensure that they can have what they want as the economy changes, or they can blame various people and institutions for their hardship.
If one thinks about it, one can only hope we all choose to accept and ensure. The next time you are working with, or being serviced by, someone who may not look or talk the way you do, know that the person is contributing greatly to the economy, and to the well-being of all of us.
Peter
BOOMERS VS. MILLENNIALS IN THE WORK FORCE
#BabyBoomers #millennials #GenerationsInTheWorkForce
“Managing multigenerational workforces is an art in itself,” says a quote from Harvard Business School.
“Young workers want to make a quick impact, the middle generation needs to believe in the mission and the older employees don’t like ambivalence. Your move,” the quote continues.
Eric Harvey and Silvana Clark have compiled a book titled “Boomers vs. Millennials: Listen, Learn and Succeed Together.” Half the book is written from the viewpoint of the millennials. The second half is written from the viewpoint of the boomers.
There is no right or wrong on either side, the authors argue. It’s just a matter of how different age groups see the world.
Millennials are tech whizzes. Boomers? Not so much. Millennials want things to happen quickly. They want to get immediately recognized for everything they do. They need constant feedback, the book says.
Boomers are a little more patient. They can be left alone without much feedback to get their jobs done.
Millennials look for a good work-life balance. Boomers can, and have, put their jobs first in many cases.
Regardless of your age group, we all want work to be rewarding. We all want to be paid fairly for what we do. We all want the time to have a full life and we all want to have enough in our elder years to feel comfortable about retirement.
Too often, jobs lack some of those provisions. Chances are, if you are paid well, you are working long hours. You are putting the rest of your life on hold to keep those paychecks flowing.
If you are not paid well, unless you have a certain degree of personal satisfaction from your work, chances are you are not happy.
It’s always good to find something good in any job, lest you do something rash and quit.
Boomers, and workers who are even older, have grown up with some degree of job security. Generally, if one worked hard and stayed out of trouble, he or she advanced at work. Millennials probably will not have that. They will go from job to job — sometimes by their own choosing, sometimes not — looking for the ideal situation.
Employers have to understand this phenomenon if they want to keep good people. The Harvey and Silvana book provides some insight to employers, as well as employees, to understand those from different generations.
If you are a millennial, and you bounce from job to job looking for the ideal, wouldn’t it be nice to have an income that is not dependent on a traditional, W-2 job? If you are a boomer, and approaching retirement age, wouldn’t it be nice to have an income that will augment what you will get when you retire? Wouldn’t each generation like to leave a legacy of helping others? In any case, you may find an answer at www.bign.com/pbilodeau.
We all have different needs. We may not always understand the folks from our children’s or our parents’ generation. But we all must work and live in the same world. It’s best if we try to empathize with each other, rather than criticize each other.
No one is right or wrong, the authors contend. So let’s accept each other for who we are, and try to understand where each is coming from. All will be more productive in that case.
Peter