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Worker shortage: Employers are 'rolling out the red carpet' for job seekers
Yahoo Finance
Worker shortage: Employers are 'rolling out the red carpet' for job seekers
Julie Hyman · Anchor
Tue, November 16, 2021, 4:44 PM
Evidence of a U.S. worker shortage is popping up from “help wanted” signs in store windows to the record number of Americans — 4.4 million — who quit their jobs in September. Employers are finding that the traditional ways of attracting new employees, like raising pay, aren’t necessarily effective.
The one thing that’s more enticing to workers than anything else is remote work, said the chief executive of one of the nation’s largest job postings sites. And increasingly, job seekers are getting what they want. But Ian Siegel, co-founder and CEO of ZipRecruiter, told Yahoo Finance Live that it’s been a challenging process for employers.
“Previously, we had hypothesized that all of these workers were reluctant to return to work because they were scared of getting sick, or they didn’t have child care or they were getting stimulus checks, or they didn’t have to pay their mortgages. Literally every one of the reasons that we had been talking about is gone now,” Siegel said.
But workers still aren’t coming back. In addition to that record number who quit their jobs two months ago, there are still a near record 10.4 million open positions. Although hiring has picked up, with 531,000 workers added to U.S. payrolls in October, the nation’s civilian labor force is still 3 million workers shy of its pre-pandemic level. That’s not to mention economists’ estimates from earlier this year that the economy would be adding jobs at a 1 million monthly rate by now. The labor force participation rate is holding near its lowest level since 1977.
{snip}
Worker shortage: Employers are 'rolling out the red carpet' for job seekers
Julie Hyman · Anchor
Tue, November 16, 2021, 4:44 PM
Evidence of a U.S. worker shortage is popping up from “help wanted” signs in store windows to the record number of Americans — 4.4 million — who quit their jobs in September. Employers are finding that the traditional ways of attracting new employees, like raising pay, aren’t necessarily effective.
The one thing that’s more enticing to workers than anything else is remote work, said the chief executive of one of the nation’s largest job postings sites. And increasingly, job seekers are getting what they want. But Ian Siegel, co-founder and CEO of ZipRecruiter, told Yahoo Finance Live that it’s been a challenging process for employers.
“Previously, we had hypothesized that all of these workers were reluctant to return to work because they were scared of getting sick, or they didn’t have child care or they were getting stimulus checks, or they didn’t have to pay their mortgages. Literally every one of the reasons that we had been talking about is gone now,” Siegel said.
But workers still aren’t coming back. In addition to that record number who quit their jobs two months ago, there are still a near record 10.4 million open positions. Although hiring has picked up, with 531,000 workers added to U.S. payrolls in October, the nation’s civilian labor force is still 3 million workers shy of its pre-pandemic level. That’s not to mention economists’ estimates from earlier this year that the economy would be adding jobs at a 1 million monthly rate by now. The labor force participation rate is holding near its lowest level since 1977.
{snip}
8 replies
= new reply since forum marked as read
= new reply since forum marked as read
Get into AMWAY. Make the big bucks.
???
