Ray A. Smith
speaker
910 appearances
20 recordings
1 series
first heard Jun 2018
last heard Nov 2024
Ray A. Smith’s voice in public audio — every appearance, attributed to the second.
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Appearances
the candidate is asking for way too much.
So it is a careful thing that candidates have to be aware of.
This shows that the balance of power has shifted back to employers and companies after a couple of years where the balance of power was more on the job seeker side, where they could command a lot more and get a lot more.
It was reduced primarily because they had gotten out of control, some would say, post-pandemic when there was over-hiring.
So this is almost like a pay reset, some would say a return to normal for pay, which had gotten overheated when the job market was tighter and hotter.
We're seeing it in industries such as food and manufacturing.
And that's according to ZipRecruiter, who did an analysis of many of their job postings, where they found blue-collar sectors like food, manufacturing, even transportation, those all registered drops in average posted pay.
mostly because they had seen declines in hiring after they had gone through a period of overhiring and strong demand for those kinds of workers.
That demand has now been satisfied, and so there's less opportunity to hire and also to pay these new hires as much money.
It depends on what sector you're looking at.
People told us they've seen job postings where the salary might have been between $175,000 and $200,000 a year ago, now being advertised for tens of thousands of dollars less.
According to ZipRecruiter, we saw the biggest decline in retail, where average wages
advertised for new hires is down 55.9%.
We also saw drops in pay of as much as 24% for agriculture and 17% for manufacturing.
We spoke to a McDonald's franchisee who has restaurants in Ohio, Pennsylvania, and West Virginia.
He starts his hourly workers at $13.
an hour.
And now he's pressuring his managers to see if they can reduce that to $12 an hour.
His rationale is labor expenses at the locations there have exceeded his food costs.
And that's something he hadn't seen in his 24 years with the company.
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