Jaime Rutter, a 24-year-old part-time office manager at Merrill Lynch BAC, was fired.
In January 2020, they never imagined it would take more than a year and a half to find another job.
For the next two months, the routers, who use their / their pronouns, apply nonstop for a new job out of money, an industry they wanted to find out before they left.
But by March, “there was nothing even to apply for,” Staten Island Reuters said. “Not only was I unemployed, many people I knew were unemployed at the time.”
A year and a half later, Reuter had no problem finding job postings – in fact, by September 2021, they had applied for more than 200 positions.
“I rarely lost a job because 90% of the jobs I applied for never contacted me,” said Reuter, who graduated from Pace University with a bachelor’s degree in 2019.
Reuters told MarketWatch that it was humiliating to hear of massive labor shortages and a record 10.9 million jobs.
Reuters asks their parents, “How can you not get a job when there are so many job opportunities?” I’m fine, ‘OK, here’s my resume, here’s all my information, give me a job.’ ”
Harvard University economist Karen Dinan, who worked as chief economist at the Treasury Department during the Obama administration, said it was “certainly not a common experience” for a large number of people to work in the open labor market at the same time. .
Businesses added 194,000 jobs less than forecast last month, while 7.7 million people remained unemployed. Yet employers across the country are scrambling to fill job opportunities, with nearly 11 million roles incomplete.
Among the unemployed, the router was more or less external.
They feel comfortable working privately and don’t have kids to take care of them – two reasons why many Americans are probably not coming back to work, Dinan said.
But there is more to the story than meets the eye.
More workers are retiring
Prior to the epidemic, the labor force participation rate for U.S. adults 55 and older was just over 40%. But last month it was below 39%.
“Some people who were moving closer to normal retirement age found themselves in a better situation than they would otherwise,” Dianan said.
During the epidemic, like many Americans, people who came close to retiring were probably able to save more money than usual, especially in the months when most economies were closed. On top of that, their 101 (k) accounts have probably been acclaimed during the epidemic thanks to a bull market.
Small businesses crippled by epidemics do not necessarily raise wages
If employers are struggling to make ends meet, it would be understandable to consider raising their wages. But some small businesses that were lucky enough to survive the epidemic lockdown could not necessarily pay their workers more.
Meanwhile, large companies such as Walmart, WMT,
And Amazon AMZN,
Which is also experiencing a shortage of workers, they have been able to raise their minimum wages to lure workers.
Although Reuters was desperate to find a job, they were away from low-paying retail and food industry jobs.
“It feels like applying for a minimum wage job where there are no benefits and you know you’re going to be treated like garbage,” Reuter said.
But two weeks ago, a friend, who works at JP McHale, a pest management company that works in the tri-state area, shared the opportunity to work as a customer-service representative. Eventually Router was hired for this position, paying 19 19 per hour and bringing benefits, including health insurance and a 401 (k) contribution. They started work from Monday.
‘A job is not just a job ‘
In a number of ways, the epidemic has forced more workers to look for job opportunities where they have better working conditions than in previous jobs, said Katherine Zikuhar, a labor-market policy analyst at the Washington Center for Equitable Growth.
This has made more employees realize that “a job is not just a job,” he said.
“It’s wages, schedules, number of hours, benefits, location” এand since so many jobs are open, more workers are being selected and applying for jobs that examine their prerequisites.
But since millions of Americans stopped receiving unemployment benefits last month, more workers will eventually have to sit in less than ideal positions.
“While it may be that some families built up extra savings during the epidemic, these savings will dry up if there are no jobs,” Dianan said. “Until then, they have to take a job they may not like.”