I believe that the biggest problem right now is labor. Everywhere I look, and in my own business it is extremely difficult to find people to work -- let alone good people. In some positions I have doubled my wage rates -- yes, DOUBLED, and I'm still getting people who are getting more in competing offers. And these are hourly positions. This started for me in January, 2021. I'll never forget that feeling I had, like the labor world had vanished overnight.
We would post a job, and get perhaps 20 applicants. Ok, not bad. Then we would start phone screening, and 10 wouldn't answer or return phone calls. Weird. 10 would answer, but only 5 would schedule an onsite. Of those 5, 1 or 2 would show up. The other 3 or 4 would just either ghost us or say something catastrophic happened (car accident was a popular one). Of the 2 that we would extend job offers, sometimes 1 would show up to work. Within a month or so, that person would move on to another job, paying 20% to 30% or more than this one.
I figured out later that these people were simply applying to meet their unemployment requirements, and never had any intentions of accepting a job. A few openly admitted it.
I literally cannot run a business in a labor market like that. So I found that I was doing triple the work, and my managers were stressed out and exhausted. I still to this day have not recovered mentally from that exhaustion, as the beat goes on. I can only write a comment here, because I take a mental break during the day to think about something else. And, the situation has gotten a bit better. This forum has some "venting" benefits for me. Thank you Mr. Carter!
But back in January, 2021, I knew that inflation was going to be really, really bad, if only because of the wage rates that I was offering. Everyone is doing it. Things are slowing down, and for that I can only be grateful. We need a normal economy, not this.
When repairing my home, I cannot find contractors. I just had some plumbing work done, and now they want to charge you JUST TO COME OUT AND QUOTE THE JOB. This has never been this way.
So, the very first thing that has to be fixed is the government getting rid of the incentives to not work. At all levels.
But my fear is that they've already killed off much of the potential rebound of the economy, and that killing off the "demand" was much worse than just trying to increase the supply.
We are in for it, and we're going to get it good and hard.
This comment reminded me of something. We recently returned from a European vacation. Flew w/ Delta. I had read that airlines are rehiring retired pilots for various reasons, but I was surprised to see that the cabin staff too is mostly retirement-eligible people (I'll admit I didn't ask their age, but many had gray to white hair). They all did a nice job, no problems, good work-ethic.
There's lots of inter-generational sniping going on out there, some of it is even justified, but when we run out of these last few years of Boomers (and the first years of Gen-Xers), work places are going to have some real problems - as documented by the comment above.
You are exactly right. The vast majority of my employees are Millennial and Gen Z (age 23 through about 40). I am Gen X (right in the middle).
I have noticed that the majority of problems are coming from younger people, who seem dispirited with work in general. Lots of emotional baggage, and many sat back during the pandemic and just simply "left."
I had a Millennial manager who was promoted and then was so "exhausted" of working 45 hour weeks that he left after 6 months to backpack in the forest. Doesn't like 9-5, he says. We were on great terms, but I shake my head that these kids are a different breed than my generation or the Boomers. They have very different motivations and drivers, and it is not the traditional things (home, kids, things).
You throw in handsome government benefits to NOT work, and they will choose "experiences" and "exploration" or drowning themselves online over normal, grinding work every day.
I read that the airlines used their government Covid money to offer layoff packages to their pilots and other employees. Supposedly that is one of the reasons behind the current air travel issues.
You reminded my of that old Lily Tomlin quote " No matter how cynical you get, it is impossible to keep up" . Sad, but really true now with Biden & company trying to run the show. All the new regulations & penalties just from the SEC are destroying the investment community.
Really like reading you when you get mad. Very much liked the link to Michael Every.
As to the midterms, I'm sure that after an appropriate number of non-GOPe Republicans have been hassled, if not outright arrested (pour encourager les autres, doncha know), that people will know who to vote for.
I believe that the biggest problem right now is labor. Everywhere I look, and in my own business it is extremely difficult to find people to work -- let alone good people. In some positions I have doubled my wage rates -- yes, DOUBLED, and I'm still getting people who are getting more in competing offers. And these are hourly positions. This started for me in January, 2021. I'll never forget that feeling I had, like the labor world had vanished overnight.
We would post a job, and get perhaps 20 applicants. Ok, not bad. Then we would start phone screening, and 10 wouldn't answer or return phone calls. Weird. 10 would answer, but only 5 would schedule an onsite. Of those 5, 1 or 2 would show up. The other 3 or 4 would just either ghost us or say something catastrophic happened (car accident was a popular one). Of the 2 that we would extend job offers, sometimes 1 would show up to work. Within a month or so, that person would move on to another job, paying 20% to 30% or more than this one.
I figured out later that these people were simply applying to meet their unemployment requirements, and never had any intentions of accepting a job. A few openly admitted it.
I literally cannot run a business in a labor market like that. So I found that I was doing triple the work, and my managers were stressed out and exhausted. I still to this day have not recovered mentally from that exhaustion, as the beat goes on. I can only write a comment here, because I take a mental break during the day to think about something else. And, the situation has gotten a bit better. This forum has some "venting" benefits for me. Thank you Mr. Carter!
But back in January, 2021, I knew that inflation was going to be really, really bad, if only because of the wage rates that I was offering. Everyone is doing it. Things are slowing down, and for that I can only be grateful. We need a normal economy, not this.
When repairing my home, I cannot find contractors. I just had some plumbing work done, and now they want to charge you JUST TO COME OUT AND QUOTE THE JOB. This has never been this way.
So, the very first thing that has to be fixed is the government getting rid of the incentives to not work. At all levels.
But my fear is that they've already killed off much of the potential rebound of the economy, and that killing off the "demand" was much worse than just trying to increase the supply.
We are in for it, and we're going to get it good and hard.
Going in dry, bite the pillow
This comment reminded me of something. We recently returned from a European vacation. Flew w/ Delta. I had read that airlines are rehiring retired pilots for various reasons, but I was surprised to see that the cabin staff too is mostly retirement-eligible people (I'll admit I didn't ask their age, but many had gray to white hair). They all did a nice job, no problems, good work-ethic.
There's lots of inter-generational sniping going on out there, some of it is even justified, but when we run out of these last few years of Boomers (and the first years of Gen-Xers), work places are going to have some real problems - as documented by the comment above.
You are exactly right. The vast majority of my employees are Millennial and Gen Z (age 23 through about 40). I am Gen X (right in the middle).
I have noticed that the majority of problems are coming from younger people, who seem dispirited with work in general. Lots of emotional baggage, and many sat back during the pandemic and just simply "left."
I had a Millennial manager who was promoted and then was so "exhausted" of working 45 hour weeks that he left after 6 months to backpack in the forest. Doesn't like 9-5, he says. We were on great terms, but I shake my head that these kids are a different breed than my generation or the Boomers. They have very different motivations and drivers, and it is not the traditional things (home, kids, things).
You throw in handsome government benefits to NOT work, and they will choose "experiences" and "exploration" or drowning themselves online over normal, grinding work every day.
That is part of what is happening.
I read that the airlines used their government Covid money to offer layoff packages to their pilots and other employees. Supposedly that is one of the reasons behind the current air travel issues.
Someone needs to start a “Bidenville” meme. (Like Hooverville) I wish I was the guy to do it!
A righteous rant! Agree 100%
You reminded my of that old Lily Tomlin quote " No matter how cynical you get, it is impossible to keep up" . Sad, but really true now with Biden & company trying to run the show. All the new regulations & penalties just from the SEC are destroying the investment community.
And that's the truth!
Really like reading you when you get mad. Very much liked the link to Michael Every.
As to the midterms, I'm sure that after an appropriate number of non-GOPe Republicans have been hassled, if not outright arrested (pour encourager les autres, doncha know), that people will know who to vote for.
https://redstate.com/nick-arama/2022/09/12/fbi-turns-up-on-doorstep-of-trump-supporter-who-wasnt-even-at-capitol-n626595
Big banks are regulated (heavily) utilities. Not much free enterprise left there.
Great Depression 2: Fascist Eugenicist Oligarchy Boogaloo!