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Job vacancies surge past one million in new record

bbc.co.uk

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Re: Job vacancies surge past one million in new record

#51

Post by radiator »

quickthrower2 wrote: post #45
elevenoh wrote: post #35

Earlier quoted context omitted.

Being paid in fiat means my default income stream is a depreciating one. I'd prefer to be paid in an evolving currency, one emerging out of maximal open-competition. Why? Nothing breeds a better result.

How you get paid doesn’t matter. Convert it all to crypto if you want on payday.

But that would be only half the solution. If the value of fiat decreases daily, then you should also negotiate a salary raise every month? Most people do not get raises more than once per year.

Re: Job vacancies surge past one million in new record

#52

Post by NiceWayToDoIT »

This reminds me of David Graeber's story on how during one of the pandemics, a plague killed so many people in the UK that those who left got rich by inheriting land and by increasing wages, as there was no one to work.

In the case of UK there was a superstorm of Brexit, IR35 change, and pandemic all in one - adding to the issue for employers. But in a way, I do not see this as an issue but a chance to equalize wealth. Either they will reduce their profit and increase wages, automate or go bust.

Is it good or bad? We will see over a longer period of time...

Re: Job vacancies surge past one million in new record

#53

Post by mensetmanusman »

stayfrosty420 wrote: post #6

this is good for wages but I am concerned about the resulting inflationary pressure.

There is always some inflationary pressure when inequality is reduced. For example, very few can support nannies and home servants like they could in the past (and like in India now), when poor people’s wages were so low that they would give up their life to support anyone that owned land.

The only way to prevent inflation is with technology and productivity, for example, people today could have home servants in the form of robots if that technology existed, but it currently does not, because the problem is currently extremely difficult given humanity’s existing tool set.

Re: Job vacancies surge past one million in new record

#54

Post by mmarq »

tomp wrote: post #39
ndr wrote: post #11

"We advertised locally for 70 fruit-pickers and we had nine applications. On follow-up, only one was still available... in terms of recruiting locally, we failed completely," says Ali Capper, the owner of Stocks Farm in Suckley and chair of British Apples and Pears. At her orchard, harvest has just started. It must be done quickly and requires many pairs of hands. Ali had to turn to specialist recruitment firms and h…

I love how all the elite arguments that immigration doesn't reduce wages (which the working class always thought were complete bullshit) were proved to be complete bullshit during the pandemic-related border closures. Of course, the discussion about what to do about that remains - open borders & keep wages low, or close borders & raise local wages, or close borders & keep wages low & invest in automation - but it's n…

There’s no opposition to gaslight, the vast majority of the population believes the myth of immigration reducing wages, while there’s no evidence of it being true (you are welcome to provide some). This vast majority is not the opposition, but the force that elected the past 3-4 conservative and euro-skeptic governments that gave us the “hostile environment for foreigners”.

In the UK, EU nationals earn more than the locals, so one inclined to silly socio-economic statements should argue that locals reduce wages.

Re: Job vacancies surge past one million in new record

#55

Post by fergie »

The labour squeeze is placing upward pressure on wages, which is pumping more money into the economy which is in turn exacerbating the labour squeeze.

Wages have been stagnant in the UK for too long. In the last decade or so certain sectors of the economy (hospitality, agriculture, nursing) have been too dependent on a vulnerable "serf class" of easily exploitable workers.

That workers have got more money to spend is a really good thing for themselves and for business.

Re: Job vacancies surge past one million in new record

#56

Post by pibechorro »

nly wrote: post #44

Housing is anything from a third to 50% of the average UK earners take home income. Median house price to median income ratios are at historically high levels[0], and rents are now also rising[1] Either wages need to rise or house prices need to fall. [0] If you look at somewhere mundane like Essex the median 'affordability ratio', as measured by the Office of National Statistics ( https://tinyurl.com/x5jatcx8 ), was…

Inflation will make any increase in wages meaningless. It will also further drive investment into housing to escape the free falling cash.

The answer is no lockdowns, no bailouts, and no quantitative money printing to oblivion.

Let the everything bubble pop and start over with sound first principles. We will get there, but not before politicians make it worse and delay the inevitable defaults.

Re: Job vacancies surge past one million in new record

#57

Post by codegrappler »

quickthrower2 wrote: post #37
CodeGlitch wrote: post #25

Earlier quoted context omitted.

Lorry drivers getting 40% higher pay: https://www.bbc.co.uk/news/uk-england-coventry-warwickshire-... In fact I can see this happening across many industries, and if you are one of those people working minimum wage can only be a good thing? The import of cheap labour does push down the wages of the working class - so the middle/upper classes get to buy cheaper fruit... I believe farmers will have to work with this ne…

Wonder if it will cause high inflation, and if that’ll force up interest rates

It certainly feels that way. Businesses can’t find workers, so wages increase, costs are passed on to consumers, prices inflate…

Re: Job vacancies surge past one million in new record

#58

Post by adrianb »

quickthrower2 wrote: post #41
aaaaaaaaaaab wrote: post #32

Earlier quoted context omitted.

What prevents landlords from simply soaking up the wage increases then?

They might but it may not push up house prices

How so?

If these days a house listed for x gets offers at x+10%, after average wages increase it will receive offers at x+20%. Is there any historical precedent of house prices not rising faster than inflation, absent external factors?

I think a major correction of house prices can happen in two ways:

- economic catastrophe (everyone's unemployed) / war / natural disaster / ... - we wouldn't want to buy a house anyway in that case;

- major increase of interest rates or minimum deposit required - we wouldn't be able to afford the mortgage in that case.

Re: Job vacancies surge past one million in new record

#59

Post by fergie »

stayfrosty420 wrote: post #6

this is good for wages but I am concerned about the resulting inflationary pressure.

Yes, but in practical terms the opposite of wage inflation is asset inflation, and this has probably been the defining problem of the UK for the last 20 years.

Re: Job vacancies surge past one million in new record

#60

Post by jenscow »

NiceWayToDoIT wrote: post #52

This reminds me of David Graeber's story on how during one of the pandemics, a plague killed so many people in the UK that those who left got rich by inheriting land and by increasing wages, as there was no one to work. In the case of UK there was a superstorm of Brexit, IR35 change, and pandemic all in one - adding to the issue for employers. But in a way, I do not see this as an issue but a chance to equalize wealt…

Or just increase wages and increase prices.
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