Everyone knows how much inflation has affected our everyday lives. The pressure is on to be able to continue to do the things we want or like to do. That same pressure is felt every time we head to the grocery store to buy the essentials of life. Things have been tough and it doesn’t look like things are going to ease up any time soon.
Inflation has taken its toll on the job market too. While employers are scrambling to hire all of the people they need to keep their operations running, many people simply won’t enter the job market right now. Why won’t people enter the job market when it keeps getting harder to make ends meet?
It seems that people are looking at wages they were accustomed to making before things as Covid hit us. Then, once the pandemic eased up, inflation raised its ugly head. People began looking at rising prices and they also looked at the wages employers were offering. We all saw that low-end workers at what are considered entry-level jobs were looking at large wage increases compared to what was previously being offered in these positions. They went from minimum wage to rates as much as three to four dollars more per hour. While this is great for those types of job seekers, what has happened to jobs that already paid more? Have those wages risen correspondingly? In some industries wages for higher-level workers have risen and of course, in others, it hasn’t.
As an employment agency, we sit in the middle of all of this inflation and wage increases to help stave off inflation. We see applicants every day that are searching for employment, We also see some of them that simply turn away from job offers where the pay offer is simply too low for them. They feel that they will continue to hold out until they can receive the right offer.
We work closely with both employers and employees. Also, we are the buffer zone for both. We have had to go to some employers and tell them the hard cold facts about needing to raise compensation levels. We have also had times when we had to explain to applicants that their wage wishes were way too high.
If you are a job applicant and apply with us you can be sure that we have done our homework and that we have explained to employers the need to offer the right compensation levels if they expect to get quality employees. On the other hand, if you are an employer searching for the right employees, we make sure that the applicants we have for you as prospects understand what the right wage level should be for the type of position they are applying for.
Inflation looks like it will be with us for a while. In the meantime, all of us need to make all of the necessary adjustments necessary. At DAKO we are here to assist both employers and employees during these times of inflation and all other economic times just as we have been. Contact us for all of your employment needs.
Posted In: Placement, professional Placement
Tags: Inflation, Job Market