Someone needs to speak up.
It’s an all-too common refrain among US corporations: we have jobs available, but simply can’t find qualified workers to fill them.
Economists, including top Federal Reserve officials, lend credibility to this dubious claim by arguing there is a "skills gap" among US workers that is preventing firms from finding employees with the right backgrounds.
However, ample research and basic common sense suggests that wage stagnation, which has dominated the US job landscape in recent decades, is a symptom of an anemic labor market, not a fully recovered one.
Credit to Minneapolis Fed President Neel Kashkari for pointing that out during a speech to business leaders on Monday.
"If you're not raising wages, then it just sounds like whining," he told a group of business people at a Rotary Club meeting in Sioux Falls, S.D., according to the Washington Examiner.
The July jobs report released on Friday confirmed wage growth is meek at best. Average hourly earnings rose by 0.3% from a month earlier and 2.5% from the year before, a level that barely keeps up with even the subdued rises in consumer prices.
"Are any of you planning to raise wages in the next year or two? Or are you just complaining about you can't find workers?" Kashkari asked the group. "If you look at North Dakota in the oil boom — if you raise wages, people respond and you can find workers."
August 8th, 2017 12:04pm
"If you're not raising wages, it just sounds like whining".
August 8th, 2017 12:16pm
I thought developer wages had gone through the roof in the US in recent years.
August 8th, 2017 12:35pm
Not at the places posting adverts for "Rock-Star Programmers needed at rock-bottom prices!"
Those places are just trolling so they can justify asking for more H1B workers. Indentured servants paid rock-bottom prices who can't quit without being deported are SO much more convenient than, you know, REAL employees.
August 8th, 2017 12:39pm
But if they were that significant wouldn't it have an impact on developer salaries? It doesn't seem to be slowing them.
August 8th, 2017 3:24pm
Real wages in the US have been flat or falling since the 70's.
August 8th, 2017 3:29pm
But there's been a lot of whining.
If there really was a shortage of software workers:
- Salaries would go up.
- Employers wouldn't be so picky.
- There wouldn't be any age discrimination.
- You wouldn't have to pass several hours of algorithm brainteaser questions to get a job. (I define an algorithm brainteaser question as an algorithm question that requires some clever trick to solve, making it nearly impossible to get in 15 minutes if you haven't seen it before. Companies can't use "routine" algorithm questions, because too many candidates would pass and it wouldn't be a filter.)
August 8th, 2017 7:17pm
If lying is now the socially expected norm, is telling the truth a disorder?
Besides the fact that it has become socially acceptable to lie, the fact of the matter is that most people in power (e.g. politicians, rich business people, etc.) know that the peasants do NOT have many options available to them. Therefore, if someone in power does say anything about a topic, all they normally do is say something that sounds as if it might be plausible.
Another problem is that even before the rise in popularity of the World Wide Web, the media often only regurgitated what was told to them during an interview rather than doing any research/investigation.
One Programmer's Opinion
August 8th, 2017 9:22pm
"Truth is treason in an empire of lies"
August 9th, 2017 6:48am