Monday, October 24, 2016

Retailers rush to hire for holidays

WSJ - retailers rush to hire for holidays. Quote:

Retailers geared up to hire holiday-season workers in August this year, an unusually early start showing how competition has intensified for temporary help in a tight labor market.

Data from job-search site shows retailers, and the warehouse and logistics firms they compete with for seasonal labor, started searching for temporary workers a month earlier than in recent years. This suggests retailers and other firms “anticipate stronger consumer demand and expect that it will be harder to find the people they want to hire,” said Indeed economist Jed Kolko.

Last year, more than one in four retail workers hired in the fourth quarter of 2015 started their jobs in October, the highest share on records back to the 1930s.


The tighter labor market also is putting upward pressure on wages. Wages paid by retailers and other typically low-wage employers have increased in recent years as the pool of available workers shrank.

“Retailers, in general, are going to wind up paying more for their seasonal workforce than they have in the past, and probably more than they’re expecting,” said Joel Bines, co-head of consulting firm Alix Partners LLP’s retail practice.

I know that nowadays mainstream economics considers it the hallmark of an evil communist dictatorship for the working class to be paid a decent wage; but the fact is that it's good for consumption, and thus good for the economy.

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