Record Low Unemployment

Tenacious D · Apr 24, 2018

You don’t say...

What will happen when the U.S. unemployment rate falls below 4 percent, which is expected to occur by this summer?

One way to tell is to look at cities where joblessness is already lower than that.

Bloomberg News reporters traveled to Iowa, Georgia, and Maine. What they saw there is encouraging. They discovered that employers have found ways to cope with tight labor markets and still make money. Businesses have pulled in workers from the sidelines—including retirees, immigrants, and the homeless—and retooled processes to use less labor. Some have raised pay considerably for certain jobs, but so far there are no signs of an overall wage explosion. That should embolden those at the Federal Reserve who want to raise interest rates slowly to give growth a chance.
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(Emphasis Mine)

People move up, new people get a chance to make it, too:

She says the operation ran at full capacity last summer, though with too-few housekeepers, it wasn’t able to accommodate as many early check-ins. “We end up having to hire people who we wouldn’t normally,” says Croman, who’s already put out feelers for the summer.
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Damned immigrants, not only taking all the jobs, but succeeding and doing exceedingly well for themselves and shit:

Lanre Bakare, a 36-year-old Nigerian immigrant, was homeless and had little marketable work experience when he was accepted into a training program run by CobbWorks Inc., a federally funded nonprofit that matches workers and businesses in the construction, logistics, information technology, and health-care fields. Now he earns $40,000 annually as an analyst managing vendors and supplies at residential construction sites in Cobb County, Ga., and the surrounding area. Eleven months into the job, Bakare still marvels at his salaried status and is looking forward to that most dreaded of employment rituals: the performance review. “I’m really excited,” he says. “We’re going to talk about if they are going to increase my job, what are my possibilities.”
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The tightening job markets are forcing businesses to just voluntarily increase pay and benefits and to improve conditions for its workers and shit - and they don’t even have the decency to wait on a legal requirement or union-backed mandate, before doing so:

Several Marietta companies report they’re improving benefits to hang on to employees and attract new ones. InfoMart Inc., a 137-person operation that performs background screenings for companies, began paying 100 percent of its employees’ health insurance premiums this year, up from 75 percent. It also rehabbed its office space to make it more “collaborative-looking,” says Senior Vice President Tim Gordon, who’s especially keen to attract millennials. InfoMart also allows its tech employees to work from home four out of five days a week.
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And then this shit - some union better get in there and tell these people how bad they’ve got it, while the getting is good:

Just outside the city limits, Gas South LLC, a natural gas retailer, raised its minimum wage to $15 an hour in late 2016 and now offers every employee—including those in its call center—a one-month paid sabbatical every five years on top of regular vacation time. It also pays its workers’ health insurance premiums and has equipped its call center employees so they can work from home. “We did some research into the cost of living and discovered that some of our people were really struggling,” says Chief Executive Officer Kevin Greiner. “With more money comes less stress. It helps us recruit and keep quality people.”
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All sort of kidding aside, it’s an excellent read, for any interested.

Link: https://www.bloomberg.com/news/feat...record-low-unemployment-looks-like-in-america

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Record Low Unemployment

Tenacious D The law is of supreme importance, or no importance

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Record Low Unemployment

Tenacious D The law is of supreme importance, or no importance

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