Jobs Market isChanging

[sea2summit]

One of the reasons I don't watch pro sports anymore.

Amen to that!

 

[MossRoad]

Amen to that!

They lost me when baseball went on strike years ago.
So I switched to college.
Now I may switch to high school.

 

[scootr]

We can only conclude the world has already gone to hell-in-a-handbasket as my parents warned.
Now we can only sit by and watch.

 

[orezok]

I'll say it again. The labor shortage caused by a receding work ethic started with professional sports paying 6 figures, then millions. Kids saw ordinary people play ball for multi million dollar pay. Then they watched entrepreneurs and influencers on you tube getting rich fast doing fun stuff. It's no wonder they shied away from physical labor as a way to support themselves. Stock market champions and more get rich quick options...
Who do you think is going to fill these labor jobs? Certainly not young middle class america.
AI better advance fast to fill the labor shortage.

That’s exactly why we need a good immigration policy. We need those people who still have a good work ethic. As a contractor, my best workers were Hispanic and just wanted to provide for their families and live a decent life. They were not taking away jobs, they were performing the jobs the lazy Americans didn’t want.

 

[MossRoad]

Just a few years ago, $12.50 was an OK starting wage out of high school.
That's around $25K per year.
If you make $25K per year for 40 years you've made $1,000,000.
Average pro MLB player salary is over $4,000,000 per year.
Hmmm... that's 160 years at $12.50 an hour.

 

[MossRoad]

We can only conclude the world has already gone to hell-in-a-handbasket as my parents warned.
Now we can only sit by and watch.

Or start selling hand baskets.

 

[airbiscuit]

More Boomers are aging out of the workforce than there are Gen Zs coming in to replace them. That is a primary driver of the labor shortage.

 

[plowhog]

Just a few years ago, $12.50 was an OK starting wage out of high school.

My excavation contractor is a 3 man operation. Covid claimed one of them, and the company owner is terrible with admin stuff like hiring. I told him I would help him hire a general laborer.

To my surprise I learned (in my area) you cannot attract a general labor worker unless offering $26-$28 per hour to start. And other companies were throwing in a $3,000 bonus paid after 90 days of employment. The only requirements were to show up, and knowledge of how to operate a shovel.

 

[MinnesotaEric]

Amazon to lay off 10,000. The economy is strong as hell.

Big banks are laying off people too. In financial world it is super easy to get small: fire everybody and in the financial world banks get smaller because business is decreasing without any foreseeable increase over the next 18 months.

 

[MinnesotaEric]

More Boomers are aging out of the workforce than there are Gen Zs coming in to replace them. That is a primary driver of the labor shortage.

View attachment 770964

This needs context:

Properly stated, Gen whatztheirface Z is a larger group than boomers.

However, boomers that are retiring are retiring with mature skills sets that are more valuable that Gen whatztheirface Z entry-level skillsets.

Also Gen whatztheirface Z and the trailing end of the Millennials haven't hit peak baby-making' age, and this is in the context that younger people that have children are having their children later in life for all the stupid reasons we've all heard before.

Anyway, that is the context of the chart above.

That said, globally we are going to have a contraction in population because throughout the world the boomer generation didn't have as many kids with the exception of India, Mexico, and to some degree the USA. This reflects the slight decline in younger folks, but if we extended the chart, we'd see an uptick in people entering the workforce.

Ironically, it is the Millennials and Gen whatztheirface Z that will save our economy. God help us all, LOL.