Morning Joe economic analyst Steve Rattner digs into the latest jobs report to look at the factors hurting the pace of rehiring.
» Subscribe to MSNBC:
About: MSNBC is the premier destination for in-depth analysis of daily headlines, insightful political commentary and informed perspectives. Reaching more than 95 million households worldwide, MSNBC offers a full schedule of live news coverage, political opinions and award-winning documentary programming — 24 hours a day, 7 days a week.
Connect with MSNBC Online
Visit msnbc.com:
Subscribe to MSNBC Newsletter: MSNBC.com/NewslettersYouTube
Find MSNBC on Facebook:
Follow MSNBC on Twitter:
Follow MSNBC on Instagram:
Steve Rattner: Number Of Factors Hurting The Pace Of Rehiring | Morning Joe | MSNBC
If you’re an employer and you can’t compete with $600 a week, then there is something wrong with your business. No one is LIVING on unemployment.
@bryanatwku Actually that is not true. Most laborers that companies are looking for are the cheapest they can get. That is why outsourcing occured businesses want pay a $1.50 than the $7.25 in the states. Take Disney they used to have a top notch I.T. department to cut cost they gave those jobs to H1B visa holders then laid off the US ones. No companies don’t have invested interest in paying people what they’re worth and they never will. The demand is far greater than current pool of workers economic 101 to get those workers back jobs must pay more.
@Whitney Mohrhauser, companies don’t always hire the cheapest because they also consider quality, but I get your meaning.
People aren’t working today because the government is artificially raising the value of labor by offering them more benefits to be unemployed. The same would be true if the government doubled minimum wage. And we are seeing the effects of what happens when the value of labor is artificially raised which is businesses don’t just hire at the artificial heightened levels! You end up getting high unemployment and a worker shortage at the same time, which is not good for anyone and is what we are seeing now.
And before you say it’s not an “artificial” increase because that’s what they are really worth… the term “artificial” is an economics term for governmental forced value added and it is not meant as an insult.
If you wanted to legitimately raise the value of labor, you would first get the government out of the equation, then you would reduce the number of workers. We are doing the opposite by flooding the market with unskilled laborers and artificially increasing the value of labor by governmental measures.
@bryanatwku lol what? Employment is an agreement between employer and employee. If the worker doesn’t agree to the price then you don’t just get to hire him–there needs to be agreement.
@Alex Hamilton lol naw. People are getting $600 from unemployment. I pay my designers 32$ an hour or 1280 a week, with benefits. My designers would never bail on me to collect unemployment lol. $600 a week is a joke. I’m in FL.
@Solyndra Solyndra lol you are so confused on this subject it’s just sad. The government is adding 300 to the state unemployment, not 600 lmao my God you don’t even know about the topic 😂
“We can’t find people to work for us”
Okay first question how much are you offering them? People have spent the last year re-evaluating there lives and aren’t going to work for a place if it’s not going to offer them a decent standard of living. That means if you’re offering below $15/hr don’t expect many takers.
@FREEMAN PEAVY I haven’t, I’ve worked for the same company for 25 years now. I can’t imagine how rough it would be to go through the resume and interview process again. I have a lot of respect for folks who do.
@Don m Unfortunately Math is racist in their Blue States. So sad!!
@FREEMAN PEAVY But on that same token, you’ve paid into your unemployment benefits, so if you find yourself at a point in your life where you rely on them, just remember, it’s YOUR money. Maximize it’s use and effectiveness.
@The Occasional Video Yes you served under Colonel Sanders. KFC thanks you for your allegiance!
@Jeremy Backup Things are rough out there. My hours got cut because of the pandemic but I still work every week without getting sick.
No the $300 isn’t the problem. It’s that employers aren’t paying people enough to work.
@Wisconsin Man and Trump said if Biden was elected the market would crash and it’s been at an all time high.
@A. Barker the average hourly pay for construction work is $18 an hour.
@DG youtube conservatives have never met a fact they liked.
@Alex Hamilton Or, maybe we do want to work but not for slave wages and zero benefits.
God forbid! People actually asking businesses to pay us a living wage? Where are my pearls I need to clutch them.
@Tracy Rowe not in Texas. And average is an entire different topic. Starting pay is an entire different thing. I’m still double the rate of min. Wage and my top earners are close to 6 figures in annual pay.
Gee, it’s as if workers are finally standing up to the rich business owners for underpaying them for years.
Maybe we’re witnessing a second American Revolution.
Jeremiah Bachmann no, either they are sucking on tax payers money or too lazy to get out and try different avenues to get employment. After last summer and BLM looting and burning many businesses, owners probably have had enough and won”t open backup.Let’s clarity something. They are not “worker’s” if they do not have jobs. You have no freaking clue about Business, the rich , or economics
The value of your labor is what someone is willing to pay you for your labor. It is not what you are willing to work for. Economics 101.
@Wisconsin Man my small business job pays me $8 an hour. Try joining the real world.
@David Goldman When you’re desperate and can’t find a job that pays enough, you’re sometimes forced to take slave wages. That doesn’t mean that you’re lazy and unskilled.
I am still drawing unemployment and I just turned down a job offering 1-2 days a week because I need full time. I know other folks that are not going to go back to a front line job. They want a safer position without risking their health for a crap wage. It is not a handout if you have paid taxes for decades.
@Ot3p That’s thanks to Obama and his so called Affordable Care Act.
@Wisconsin Man Oh poor wealthy company owners Obama demanded people to care about others and provide healthcare. Who’s the Christian here?
Good for you. Can’t believe they only offered two days a week.
Panthera Onca
yes it is. There will be a time when the rules on turning down a job will lose you your unemployment benefit. Right now your lucky. But in time too many refusals to take a job could be the end of the gravy train
@Alex Hamilton There is no reporting job interviews in Cali EDD right now so they have no way of knowing. Anyway the end is in 6 weeks or less, and that is the end. Good riddance. I am bored, and look for work every day now.
Let’s rephrase. Employers struggle to find employees at the wages they want to pay.
@Agua Delo 💋
@mikeincalifornia You must be fun at parties.
@T. R. Campbell Many banks replaced their employees with ATM’s and online banking for instance.
@myko freder Don’t worry 100’s of 1000’s of migrants will gladly be paid under the table! Open Border policy will fill many jobs. Whoopee
@Agua Delo We already know your ideas snowflake, but Communism is not the answer. Like the great liberal philosopher Bill Maher said ” Your ideas are Stupid”!
If employers are to stupid to figure out that not raising that minimum wage to $15.00/hr is the problem we’re in trouble.
When the extra 300 dollar unemployment goes away, let’s see what happens
With Biden’s inflation, you would need $15 of Biden bucks to buy what $7 of Trump bucks would buy.
@bryanatwku don’t breed.
Thanks,
America
@john alsop, I got’z me too yung’ns allready hoss cat.
Employers be like: “Why can’t I find anybody to work for me cleaning out my grease pits for $7.25 an hour?”
As I said above: A big Mac in Denmark is $5.15 as opposed to $4.80 in the USA. Wages in Denmark: $22 per hour + six weeks paid vacation + pension plan. Free national healthcare included. Don’t believe the lies that they cannot turn a profit.
That is the excuse that any “Lazy” individual will have for not finding a job! Lazy Employees will say: “$600 a week in my bank for doing nothing, I will stay cushy in my place! Thank you very much!!!!”
Barry Piper
do you have proof that businesses that clean grease pits only pay $7.25 an hour? Post it.
In New Zealand the minimum wage is $20 an hour. I wouldn’t get out of bed for $7.25.
@Iceberg Rose the day that I move to New Zealand I would worry about who is Lazy and does not wants to work for $20/hour. Meanwhile I will let the Hobbits of the Shire eat their mushrooms & Ale! 😂
Wages are stunningly low. This shouldn’t be a surprise. It’s not just about creating jobs. It’s also about creating a living wage.
The Progressive Worker
wages are the same as they were before the pandemic. You really think businesses effected can afford to raise salaries? you are a progressive nut. How many business owners lost their business because of Riots? How many States still haven’t opened all the way up? No where is there a mandate for Businesses to pay whatever a living wage is. There are plenty of opportunities if you aren’t lazy and want things handed to you for free
@Phay 1 ok. I’ll be sure to raise the minimum wage for you. Biden and me are real tight.
@The Progressive Worker probably not. Losers never do.
It’s so funny to think the people that think they can hold out for higher wages and stick it to the wealthy companies by boycotting jobs, are the exact same people who approves of flooding the country with unskilled laborers. I think you solved the wealthy company’s problem for them already.
@bryanatwku yep. They will be happy to work for those low wages.
Here’s an idea, PAY PEOPLE A DECENT WAGE!!!
I guarantee you’ll get people in!
We are all sick of working for pennies while coorperations keep getting richer and richer and we can’t survive!
The job opportunities, are in the workers benefit right now…Democrats need to take the jobs, with the larger employee base, with the higher wages…And leave the Republican, low paying jobs to the Republicans…Especially since they are not the educated people…in the work force..
@YouTube Moderator eh?
If you have marketable skills and are willing to work hard you will do well
Do you understand what happens when the value of labor is artificially raised?
@Red Out Yeah right until that company hires people with H1B Visas to work 2/3 rd less than US worker.
Notice how literally every one of these people avoid mentioning the truth, THAT THE COMPANIES WON’T PAY US ENOUGH TO SURVIVE! REAL TALK!!!
When the extra 300 dollar unemployment goes away, let’s see what happens
True
A lie. You’re still alive.
Bout time Employers get the message that Americans aren’t able to live on those lousy wages.
Maybe when they have to wash their own dishes and throw their own garbage out they’ll think about paying more for their employees.
@Phay 1, or just hire an illegal immigrant. Plenty of those around these days.
In this episode: rich people whine to each other in confusion about the poors demanding a living wage.
Yes, cut the cost of living, cut rent in half for everyone. Afterwards only 2 percent increases. To lower taxes at the same time Cut federal and state wages by a fourth. Thus lowering taxes.
Hahaha! You are so right, they’re all wondering what they can do to force us to work. They can’t understand that many people do not feel safe enough to go back to work or send our babies back to school.
theFlyingSwami
in this episode anyone that has a job is rich LOL the poor can get a freaking job and earn it like everyone else has to. If you think I would throw money at someone who doesn’t have the fortitude to work for min wage as it is today just like I did when i began working, No way. I tell the poor to move to Democrat Controlled cities and States where they are taken care of 😀
We all need to go back to work now for Joe and make his administration successful. The job numbers are terrible for March and April. We all need to go back to work so that Joe’s numbers look good and the Republicans do not gain control of the House and the Senate. This is real important.
Gosh, it’s almost like people need an adequate living wage.
They can’t find people to work for nothing ……….work all week ,pay your bills and your still broke ,very discouraging
Incentives for the rich = big bonuses and salaries and perks!
Incentives for the middle class = cut them off all assistance so that they must grovel to just survive!
people are reassessing what they are willing to do with their lives now – and they don’t want to work at a diner for <$15 per hour. FULL STOP
Pay more than $7.25 an hour. Covid-19 made a lot of people reflect on their lives and decided that they are not living their best lives.
They don’t want to pay. They want people to work for the minimum wages.