Pay Hikes Fail to Lure Millennials Back to Work in Fed Study

[1srelluc]

U.S. employers struggling to fill jobs would be better off offering flexible work arrangements and other incentives to younger workers because pay increases aren't enough to lure them back to the labor market, according to a study by the Federal Reserve Bank of Atlanta.

Compared with baby boomers of the same age, millennials and Generation X workers are less responsive to wage changes, Atlanta Fed economist Julie Hotchkiss said in research posted Thursday on the Fed bank's website.

"These differences are not good news for employers trying to coax workers back into the labor market during a robust pandemic recovery," the author wrote. "Employers will likely have to also resort to non-wage incentives to entice workers to fill their open jobs."

U.S. payrolls are 2.87 million lower today than in February 2020, prior to the Covid-19 crisis. The labor force, which captures working-age people who either have a job or are looking for one, remains about 900,000 below its pre-pandemic level. Meanwhile job openings and quits rates are hovering near record highs.

Pay Hikes Fail to Lure Millennials Back to Work in Fed Study

Job drift or just plain lazy? The world wonders.

 

[jbrownson0831]

U.S. employers struggling to fill jobs would be better off offering flexible work arrangements and other incentives to younger workers because pay increases aren't enough to lure them back to the labor market, according to a study by the Federal Reserve Bank of Atlanta.

Compared with baby boomers of the same age, millennials and Generation X workers are less responsive to wage changes, Atlanta Fed economist Julie Hotchkiss said in research posted Thursday on the Fed bank's website.

"These differences are not good news for employers trying to coax workers back into the labor market during a robust pandemic recovery," the author wrote. "Employers will likely have to also resort to non-wage incentives to entice workers to fill their open jobs."

U.S. payrolls are 2.87 million lower today than in February 2020, prior to the Covid-19 crisis. The labor force, which captures working-age people who either have a job or are looking for one, remains about 900,000 below its pre-pandemic level. Meanwhile job openings and quits rates are hovering near record highs.

Pay Hikes Fail to Lure Millennials Back to Work in Fed Study

Job drift or just plain lazy? The world wonders.

Lazy. Live with mom and dad for free why work?

 

[1srelluc]

Lazy. Live with mom and dad for free why work?

It's hard to fathom given their age is between 22 and 40 now. I mean that's getting into your prime earning years....Or at least was. Maybe they are waiting for Uncle Sugar to hand them a bag of devalued cash or some shit.

 

[jbrownson0831]

It's hard to fathom given their age is between 22 and 40 now. I mean that's getting into your prime earning years....Or at least was. Maybe they are waiting for Uncle Sugar to hand them a bag of devalued cash or some shit.

Businesses hire you for the job they need you to do during the hours they need you to work.....not based on your desires.

 

[rightwinger]

After generations of Employers calling the shots, employees are finally getting a say about working conditions

Good for them

 

[1srelluc]

Businesses hire you for the job they need you to do during the hours they need you to work.....not based on your desires.

LOL....It's enough to make you sell everything off and move to one of those 55+ communities so they can't move in with you when it all comes tumbling down around their ears.

 

[initforme]

"I get such a chuckle out of those live in mom and dad's basement rhetoric blabbers". Explain why this is bad for the nation? Do you want them paying rent and giving their money to a landlord? I suppose you want them getting married, having kids, etc. I for one don't believe it's any of my business what the youth of this nation are doing when they are 22 years old. It's not the nations business either.

 

[initforme]

People quitting jobs was never an issue. But all of a sudden it has become an issue. Sounds like fake news

 

[Turtlesoup]

U.S. employers struggling to fill jobs would be better off offering flexible work arrangements and other incentives to younger workers because pay increases aren't enough to lure them back to the labor market, according to a study by the Federal Reserve Bank of Atlanta.

Compared with baby boomers of the same age, millennials and Generation X workers are less responsive to wage changes, Atlanta Fed economist Julie Hotchkiss said in research posted Thursday on the Fed bank's website.

"These differences are not good news for employers trying to coax workers back into the labor market during a robust pandemic recovery," the author wrote. "Employers will likely have to also resort to non-wage incentives to entice workers to fill their open jobs."

U.S. payrolls are 2.87 million lower today than in February 2020, prior to the Covid-19 crisis. The labor force, which captures working-age people who either have a job or are looking for one, remains about 900,000 below its pre-pandemic level. Meanwhile job openings and quits rates are hovering near record highs.

Pay Hikes Fail to Lure Millennials Back to Work in Fed Study

Job drift or just plain lazy? The world wonders.

Maybe we should just admit the truth---Millenials are lazy and selfish---they never grew up and expect their mommies and /or government to suppor their worthless asses.

 

[fncceo]

employees are finally getting a say about working conditions

By not working.

 

[harryo]

After generations of Employers calling the shots, employees are finally getting a say about working conditions

Good for them

Wrong. Employees have been striking for decades. These are lazy bums that are screwing up the US. Look what happened to the USSR with your kind of thinking

 

[Wyatt earp]

After generations of Employers calling the shots, employees are finally getting a say about working conditions

Good for them

Nope it's free Biden crack pipes that are keeping them from working

 

[harryo]

I personally know workers that come into work late, a lot. Then are lazy. This is bad for the economy and the US. They use any and every excuse to be late or not come into work. Then they complain they don't have enough money for basic items. And they are black-so, if they get fired, they would blame whitey

 

[rightwinger]

Wrong. Employees have been striking for decades. These are lazy bums that are screwing up the US. Look what happened to the USSR with your kind of thinking

Employee unionization has been diminishing since Reagan.
As a result, wages and benefits have decreased.

Our workers are anything but lazy. They have watched corporate profits and executive compensation skyrocket while they have had to make do with less

 

[initforme]

Millennials work just as hard as every other generation. Accusing them of laziness is dumb. A couple of people have quit their jobs and suddenly we have some kind of crisis. Somehow it's bad when a few people quit a job. You guys are comical.

 

[fncceo]

U.S. employers struggling to fill jobs would be better off offering flexible work arrangements and other incentives to younger workers because pay increases aren't enough to lure them back to the labor market, according to a study by the Federal Reserve Bank of Atlanta.

Compared with baby boomers of the same age, millennials and Generation X workers are less responsive to wage changes, Atlanta Fed economist Julie Hotchkiss said in research posted Thursday on the Fed bank's website.

"These differences are not good news for employers trying to coax workers back into the labor market during a robust pandemic recovery," the author wrote. "Employers will likely have to also resort to non-wage incentives to entice workers to fill their open jobs."

U.S. payrolls are 2.87 million lower today than in February 2020, prior to the Covid-19 crisis. The labor force, which captures working-age people who either have a job or are looking for one, remains about 900,000 below its pre-pandemic level. Meanwhile job openings and quits rates are hovering near record highs.

Pay Hikes Fail to Lure Millennials Back to Work in Fed Study

Job drift or just plain lazy? The world wonders.

I keep hearing talking heads on NPR (my commute radio station) talk about "The Great Resignation" ... Millenials who choose not to go back to their pre-COVID jobs.

My question to this, that never seems to be answered, is ... Have we really reached a point where it has become more attractive to stay home and play Xbox as an alternative to going to work?

How does someone finance that? Is it living with mom and dad or can people get so much in benefits that they don't need to work?

 

[initforme]

Well if they are simply living off of a relative who is financing them then does it matter?
1). They aren't collecting welfare

2). They aren't getting married so they aren't having a kids they can't support.
Now where's the negatives here?

 

[initforme]

Living with parents into later years is a growing trend. It's not really a bad thing.

 

[1srelluc]

I keep hearing talking heads on NPR (my commute radio station) talk about "The Great Resignation" ... Millenials who choose not to go back to their pre-COVID jobs.

My question to this, that never seems to be answered, is ... Have we really reached a point where it has become more attractive to stay home and play Xbox as an alternative to going to work?

How does someone finance that? Is it living with mom and dad or can people get so much in benefits that they don't need to work?

I don't know, maybe a lot of it is contrived as it certainly does not make any sense unless the whole "you will have nothing and like it" is coming into play.

Maybe a lot of them are just sitting around, just getting by, and waiting to inherent their parent's wealth.

I look at my peers that have millennial kids and while most of us are not multi-millionaires we do have a home/homes and land that are long paid off that is worth a tidy sum now.

That said I don't know of any of them with kids like that. Most that I am aware of are building their own wealth now, I know mine certainly are.

 

[Unkotare]

Do you want them paying rent and giving their money to a landlord? I suppose you want them getting married, having kids, etc. ...

Um...yes. Don't you?