Unless you've been living under a rock lately I'm sure you've heard about a shortage in labor. Just hearing "labor shortage" doesn't do anything to truly reveal what's happening though. A lot of people immediately jump to conclusions but I always prefer collecting some evidence before forming an opinion. Today I came across a treasure trove of insights into the labor market. I'd like to share these insights with you so we can look under the hood and see what's actually going on.
The following information was taken from a survey conducted by Joblist who surveyed 25k job seekers from across the country over the past three months in order to answer several pressing questions about today’s job market. I've enclosed the link to view all of the findings but I'm only going to share some specific highlights that I found intriguing.
⭐ Inhospitable Hospitality Sector⭐
One-third of current hospitality workers report being “dissatisfied” or “very dissatisfied” with their jobs, which is twice the pre-pandemic level. As a result, 58% of hospitality workers say that they are planning to quit their jobs before the end of 2021.
The dissatisfaction breaks down like this
•Low pay (55%)
•Desire for a new career path (50%)
•Lack of benefits (39%)
•Difficult customers (38%)
•Schedule inflexibility and long hours (34%)
•COVID-19 risk (23%)
•The physical demands of the work (23%)
⭐ Generation Z says this ain't for me ⭐
American workers are quitting their jobs at unprecedented rates in 2021. In April alone, 4 million people quit their jobs and millions more have followed suit since. While 22% of job seekers overall quit their last jobs, this share is even larger among unemployed job seekers (35% compared to 14% of full-time employed), indicating that many workers quit their jobs without having a new one lined up. Additionally, workers in their twenties are more likely to have quit their last jobs than both teenagers and older workers. In fact, about one-third of workers in their twenties quit their previous jobs, compared to only 20% of workers aged 50 and older. There was no difference in resignation rates along gender lines.
⭐ Only the beginning? ⭐
Workers in almost every industry are considering leaving their jobs at high rates. At 77%, the hospitality industry has the highest share of workers thinking about quitting. Retail and healthcare workers are not far behind, with 74% and 73% thinking about quitting, respectively. Over one-quarter would feel comfortable quitting their job without a new one lined up. Workers currently employed as drivers are the most likely to say they would be comfortable quitting without already having a new job (37%), while people working in education are the least likely (15%).
⭐Is there anything that employers can do to counteract the quitting trend?⭐
Despite the widespread quitting phenomenon, about one-third of Joblist job seekers indicate that they would change their minds about quitting if just some of their job grievances were addressed by their employer. Another 14% of job seekers thinking about quitting say they would stay in their jobs if everything changed, while one-quarter would not stay under any circumstances.
⭐ Get these kids out of here!!!⭐
The return to in-person school is expected to improve the job prospects for a segment of working parents. 22% of job seekers whose kids are returning to in-person instruction this year say that the return to school will make their job search easier while another 23% say they aren’t sure of the impact. Nearly half of parents say that the return to school will not impact their job search, with full-time employed parents more likely to fall in this group (56% compared to 38% of part-time employed parents). Mothers are more likely than fathers to say that their kids’ return to school will make their job search easier (25% compared to 17%) and less likely than fathers to say that it will have no impact (56% to 42%).
Again I'm including the link to the full results as well as the methodology for the survey. I encourage you to check it out because there are some pretty deep insights into what is going on in the labor market right now. The labor shortage is one of the most pressing issues facing businesses heading into the holidays with the potential to make or break company's plans.
Link to the full results:
https://www.joblist.com/jobs-reports/q3-2021-united-states-job-market-report
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Join us on discord for discussion of this and other pressing issues
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#tcardizzle #laborshortage 
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Sounds like some businesses need to value their employees input more...
MrWiggles@wiegelman
I am not surprised by your report Todd @tcardizzle - the Tech job sector is so hot right now that many are training to flock to it! Then take into account the loss of overseas workers that used to come to the US to fulfill many positions prior to COVID for many of the Summer hospitality position…they could not come with COVID restrictions so this survey is probably US hospitality workers only? I…See more
@wiegelman I would also add to that immigration policy. That's kind of undeniable when you see the situation at the docks in Los Angeles. Any crackdown on immigration legal or illegal is going to cut back on the workforce. I was reading an article about how short staffed hospitals are and the head of one of the biggest hospital chains in the country flat out said we need more foreign workers.
The kind of twisted irony about the whole situation is that while workers are holding out for better pay or better conditions, and rightfully so, they are also basically assuring that they're going to be automated out of the workplace.
Thanks for the breakdown and the graph 👍🏼 I liked that you added a section for a potential solution. I think it’s important that employers start asking questions about how to keep people at their jobs / recruit people to new jobs
@sydward I'm all about solutions! Anyone can point out problems. I think it's pretty crazy how simple the solutions are. It sounds like people just basically want to be heard and appreciated. That sounds pretty reasonable to me. So much talk it's thrown around about people being lazy and getting free money to sit around but in reality people are just asking for something that everyone wants. They'r…See more
AN@otherincome
I was a temp worker who worked in hospitality for a bit, and was offered a position, but it was basically an expectation of 16 hour days, with mostly one person at the hotel check-in desk and checking all the rooms with no official breaks. I, and another person presented with the same offer, declined.
yes I agree it is simple. people just want human decency and recognition for hard work. for example, my current job started providing free food in our break room so that people wouldn’t have to eat out everyday. we go to Costco or publix every week. that may seem small but i work in retail… so for people who are trying to pay bills and trying to make ends meet, that’s a HUGE deal. Combine that wit…See more
@sydward that last part is the basis for ESG investing. I firmly believe in it. Happy employees are a resource that outshines all others and it's one of the ones that requires the least real effort. People do it automatically by doing that whole do unto others bit. I work in retail stores but not for the stores themselves (vendor rep). You can immediately tell which stores treat their employees we…See more
Really good DD . This ain’t looking good . Looks like the new generation don’t want to work . As a trade person I see it every day . And with mandatory 💉 almost everywhere make this looking worst than already is .
I’m a retired educator (that’s a whole ‘nother area of discussion) and in the summers I was a waitress. We were unable to clock into the computer system unless we clicked yes three times - and each question indicated if we became busy, we’d forfeit our breaks. Olive Garden thought they’d get away with this until we had a class action lawsuit!
I actually worked at several restaurants, over a 30…See more
Insightful. Thank you.👍🏼
AN
Andre Neal@Iwanttoberichnow
One thing you forgot to mention is that many workers are being forced to quit because they don't want that shot. Removing these stupid mandates is the only way to stop this.
I have followed you for a while because I think you are smart investor and I am new to this. I have been a teacher for 22 years now. You say that teachers are low on the people who quit their jobs, but working in a role across the district, I say that is not accurate. In my county, staff is dropping like flies. We are so under staffed, that I have had to sub in different rooms because they can't f…See more
I’m one. After 18 years of teaching it became too much to be threatened on a daily basis and have no one show when I called for security help after hours. My personal well being was at risk and no one cared when I asked for help. Add to that a simple bathroom access near my room since I’m disabled and was refused a key. I left the work force in 2018. I felt I had no choice as they wouldn’t work wi…See more
@sydward what company do you work for? I’m all for supporting these type of businesses.
Jelly@Jega
@Iwanttoberichnow not true. This situation has been happening way before vaccine mandates. If it were true then every sector will be facing employees shortages which isn't happening.
Jelly@Jega
This is a perfect example of something that has been studied for decades and has been warned about: right-wing and neoliberalist economic policies will eventually bite back at the USA economy. Neoliberalism has always been pro-corporate and anti-worker and that way of thinking has been impregnated in the system. On the other hand it's been shown that when companies treat better their employees res…See more
AN
Andre Neal@Iwanttoberichnow
@Jega some of us pay attention to current and world events. This unconstitutional mandate is the cause. Their are allot of youtube videos showing people quiting or being fired. Hundreds of cops in chicago may quit. I know people who quit their jobs. The info is their to see so your wrong.
Brian Burkhalter@Aeneas1022
My work is down so many people due to COVID and people quitting that I only worked 2 hours today out of the 10 I normally work. All weekend shifts were canceled and we’re running extremely low on materials. They even screwed us on our benefits. We can now take only a few days off per year excluding a week vacation and holidays, because of the changes in our points system which points you for anyth…See more
E
@Iwanttoberichnow I agree. in NY state, 70000+ healthcare workers lost their jobs due to the mandates. Have you seen the mess with the airlines recently, again due to mandates? Many parents in NY are choosing homeschooling option, which is an opportunity for educators, who love teaching, but not necessarily the system. Hospitality industry is another beast though. I can understand why people wouldn…See more
Unfortunately this is not a one solution problem. The solution is not as simple as we are making it. As with most things, there are a lot of issues that contribute to labor shortage. U taught for ten years. Mental health and substance abuse twenty years. Morality, ethics, beliefs and Expectations have changed. Some may or may not know a lot of facts that are not in the news. Did you know…See more
Reimplementing. Stay in Mexico
As for quitting jobs without another job. People are moving home with parents who worked or are wirking. Yes you can quit if someone else supports you.
Sorry for long text. Truth is truth. Not convoluted reasons for the post truth. Do you really know tge reason drug abuse is so bad? Do your himework. In 80s. Government forced doctors to
Rx pain meds like crazy. Can't have pain. Give…See more
Johann de Swardt@sta55entjie
If you quit because of a vaccine mandate, you have bigger problems in life. Grow up.
I'm fortunate my company let us work from home when covid hit and they've let us continue doing that if we wanted. And the company has thrived off of it. They were always hesitant about letting employees do it before, but this has saved me time and money and I love it.
Mary Lee@Packerturf61
Good information....sums up alot about our current administration.
We the parents of the millennial and Gen x are trying to pick up the gauntlet and go back to work to help our families.
I have 2 millennial sons working and one Gen X going through 2 more years of college.
I retired 3 years ago after working 40 years in manufacturing which was our family business .
God help us all
Great post
❤️
