Tom Gimbel

speaker

667 appearances 10 recordings 1 series first heard Jul 2018 last heard Dec 2023

Tom Gimbel’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · 2023 Job Market: Pay, Work From Home, Who’s Hiring and More · 4 Jan 2023 podcast

So we saw the hourly wage increase more than 50% in a lot of cities.

So that drove up wages.

And then on the white-collar side, when unemployment was at 3.4%, 3.5%, companies were throwing money at white-collar people to get them to join.

And now we're seeing as unemployment rises and

big tech is leading the way in letting some folks go, that people are more willing to accept salaries at first offer versus trying to get in a negotiation process.

And I think we're going to continue to see that in 23, that salaries are going to level off.

There were three areas, right?

So number one was compensation is what candidates look for because that's the driving one that pays your rent or your mortgage.

But the other ones were what is the cost of the benefit package?

And I think that's a really big issue is, like you said,

There's different types of compensation and cash, and we're seeing that medical coverage is still something that's expensive, and people want to have that covered as much as possible.

And then lastly is parental leave, is that we've gotten two generations of people that have come into the workforce, millennials and Gen Z, and they're having babies.

And I'm not sure it's a baby boom, but...

from the COVID lockdown.

But parental leave is important in maternity coverage as well as on the health side of how much they're covering for having a baby and infertility treatments and things like that.

So we're seeing a lot more on the health side and then paid parental leave.

No, I mean, listen, I'm a big believer that America is the land of the free and people can go wherever they want to go and they can strike deals and they can negotiate.

And the better and more unique your skill set, the better ability you have to negotiate.

And so that will always be the case.

good economy or bad economy, that the cream rises to the top and they have the ability to negotiate.

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