More Jobs or Fewer?

For John, BLUF:  Pay is going up.  What we saw last week were lagging indicators.  Nothing to see here; just move along.

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America’s severe trucker shortage could undermine the prosperous economy

From the Wash Post, by Ms Heather Long, 28 June 2018.

Here is the first part:

Bob Blocksom, an 87-year-old former insurance salesman, needs a job.  He hasn’t saved enough money for his retirement.  And trucking companies, desperate for workers, are willing to give him one.

Age didn’t matter, they said.  If Blocksom could get his “CDL” — commercial driver’s license — they would hire him for a $50,000 job.  One even offered to pay his tuition for driver training school, but there was a catch:  Blocksom had to commit to driving an 18-wheel truck all over the United States for a year.

So far, that has been too big of an ask for Blocksom, who doesn’t want to spend long stretches of time away from his wife of 60 years.  “The more I think about it, it would be tough to be on the road Monday through Friday,” he said.

As the nation faces a historically low level of unemployment, trucking companies are doing what economists have said firms need to do to attract and retain workers:  They’re hiking pay significantly, offering bonuses and even recruiting people they previously wouldn’t have considered.

So, since money talks, here is the salary paragraph (TDDS is TDDS Technical Institute, which trains people for the CDL, or Commercial Driving License):

There’s only one option right now for most trucking companies: Give substantial raises.  Recruiters who show up daily at TDDS are offering jobs that pay $60,000 to $70,000, with full benefits and a $4,000 signing bonus.

And, this shortage of workers plays into the theme being put forward by House Minority Leader Nancy Pelosi and the Democratic National Committee, Chaired by Mr Tom Perez, as seen in this Washington Examiner headline, "Dems blast booming jobs report, Trump worker agenda, ‘reckless’".

You pays your money and you takes your chance.

Regards  —  Cliff