Workers Are Gaining Leverage Over Employers Right Before Our Eyes (Published 2021) thumbnail
Workers Are Gaining Leverage Over Employers Right Before Our Eyes (Published 2021)
www.nytimes.com
The relationship between American businesses and their employees is undergoing a profound shift: For the first time in a generation, workers are gaining the upper hand. The change is broader than the pandemic-related signing bonuses at fast-food places. Up and down the wage scale, companies are bec
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  • The relationship between American businesses and their employees is undergoing a profound shift: For the first time in a generation, workers are gaining the upper hand. The change is broader than the pandemic-related signing bonuses at fast-food places. Up and down the wage scale, companies are becoming more willing to pay a little more, to train ...
  • But the demographic picture is not becoming any more favorable for employers eager to fill positions. Population growth for Americans between ages 20 and 64 turned negative last year for the first time in the nation’s history. The Congressional Budget Office projects that the potential labor force will grow a mere 0.3 percent to 0.4 percent annuall...
  • Higher wages are part of the story. The jobs report issued on Friday showed that average hourly earnings for nonmanagerial workers were 1.3 percent higher in May than two months earlier. Other than in a brief period of statistical distortions early in the pandemic, that is the strongest two-month gain since 1983. But wages alone aren’t enough, and...

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