Being part of the retail world for 20+ years, wasn't really hard until now. Every where you look you see a now Hiring sign in the window and all of them seem to have to put a dollar amount on their signs.
Now some people may think this is a good thing, but they couldn't be more wrong. More people hiring equals less to hire from.
Now every year I have to hire berween 15 and 20 new employees to work from November 1st through January 1st. Never before have I had a problem reaching those numbers, this year I have Hired 3. All three of those where hired at a payrate higher than what we normally start part timers off at, ($10.45 is our start for Part timers). Now this cant be just a problem with my company, it has to be retail company wide. So what does all this mean? It's simple you have to pay them more than what you planned on paying them or Budgeted to pay them. Budgeted being the magic word in that sentence, see once you go over budget, then the problems start. Over budget means less profits,,,, you see where this is going? It's a death spiral, the work force is in control of what you pay them.
So I had to quickly educate myself on some labor statistics. Boy was I shocked at what I found. Take a look at this chart.
Look at the bottom figure....35.2 % of people who are able to work, do not want to work. This just completely blows my mind. Then I found this statement from the same article...
- the unemployment rate is just one indicator of how the U.S. economy is doing, and it’s not always the best one. Simply being out of work isn’t enough for a person to be counted as unemployed; he or she also has to be available to work and actively looking for work (or on temporary layoff). In any given month, the unemployment rate can rise or fall based not just on how many people find or lose jobs, but on how many join or leave the active labor force.
So see we are really dealing with a 38.2% unemployment rate, if we counted the group that doesn't want to work. Here is another good point
- As many observers have pointed out, the official unemployment definition leaves out some significant groups. The underemployed – part-time workers who would prefer to work full-time – are counted among the employed. And discouraged workers – people who’d like a job but have stopped looking because they don’t believe any work is available – aren’t counted as part of the labor force at all.
So Basically if you have given up on finding work, then you are not included in the 3.2 % unemplyment number.
- Since 1945, the official definition has been that to be considered unemployed, you must not only not have a job but be available for work (i.e., not too sick to work) and have actively looked for a job in the past four weeks. If you’re neither employed nor, according to the official definition, unemployed, you’re not considered part of the labor force.
So with the above 3 statements, do you still think the unemployment number is real? So whats the answer? I don't know. What I do know is this, they economy can not just pay people what they want, just to be able to hire people. This is a disaster waiting to happen.
Check this fact out that I found once I googled baby boomers.
- They’re Supporting their Adult Children.
A recent survey from the National Endowment for Financial Education found that 59% of Boomer parents provide financial support for adult children aged 18 to 39.
Should you even be able to say "adult children" I mean what is that exactly? They way I see it is if you still live with your parents, then you still need to be parented, which means you are not an adult yet.
Here is another Fact, 10,000 Baby boomers are leaving the work force everyday. So that means that the United States would need to create 300,000 jobs a month for there not to be a deficit between those that are leaving and those that are starting in the work force.
Plus remember 59% of the baby boomers are taking care of their adult children. What a freaking mess, hard times are ahead for us.
I am going on record to predict this, 4th quarter profits will come in less than expected. Also you will see more and more jobs being replaced by automation or online services.
WAKE UP! IT'S NOT BAD YET BUT IT WILL BE!!!
sorry for the longer than normal nonsense post.
Thanks for stopping by
