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> So what's next? Any prospect of workers ever making up that lost 8% will run head into the coming recession, when both wages and workers are slashed. In fact
by isykt 3y ago
> So what's next? Any prospect of workers ever making up that lost 8% will run head into the coming recession, when both wages and workers are slashed. In fact, the latest jobs numbers say even workers' drip-down has ground to a halt as full-time jobs evaporate and gig work picks up the slack.
Not sure what JOLTS report he’s reading, but it must not be the latest one. Job layoffs are lower than pre-pandemic levels. Hires and quits were both up in May. [0]
Furthermore, it’s unclear that the shift to the gig economy is led by the employers. Baby Boomers (the largest generation the US has ever had) are retiring en mass. The pandemic killed mostly older people. Immigration ground to a halt during the pandemic. Who exactly is going to work these jobs? Robots?
[0] https://twitter.com/eliselgould/status/1676964296402817025?s=20 https://twitter.com/eliselgould/status/1676964296402817025?s...
- phpisthebest 3y ago>>Baby Boomers (the largest generation the US has ever had) are retiring en mass. I dont know the demographics data, but I know a number of boomers personally that are "semi-retired" meaning they are "retired" but they still work some in gig-ecomony jobs, some even work in smaller roles (almost gig style )(i.e project based) for either their old employers or in the same field they were in as Full time employees.
- isykt 3y agoI think this explains a large portion of the gig work that the author of the blog post pointed to, instead of the author’s theory that employers are doing it intentionally. This means that wages will eventually rise further as those boomers take on less work and eventually enter full retirement, or stop working due to illness or death.