Warning: unlink(/tmp/jnewslibrary-5TpoOz.tmp): No such file or directory in /home/customer/www/gasiantimes.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142
Worker pay rises strongly as businesses fight to fill jobs - Georgia Asian Times
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
ABOUT
Advertise in GAT
Contact us
Sunday, February 5, 2023
Georgia Asian Times
International Insurance of Georgia
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
  • Login
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
No Result
View All Result
Georgia Asian Times
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast
Home Business

Worker pay rises strongly as businesses fight to fill jobs

Georgia Asian Times by Georgia Asian Times
July 30, 2021
in Business
Worker pay rises strongly as businesses fight to fill jobs
Share on FacebookShare on Twitter

Washington DC, July 30, 2021 — Wages and salaries rose at a healthy pace in the three months ended in June as employers competed to find enough workers to fill millions of available jobs.

Pay increased 1% in the second quarter for workers employed by businesses, excluding government employees, the Labor Department said Friday. That’s down slightly from 1.1% in the first three months of the year but still the second-highest reading in more than a decade.

In the year ending in June, wages and salaries jumped 3.5% for workers in the private sector, the largest increase in more than 14 years. That increase was driven by sharp rise in pay for restaurant and hotel workers of more than 6%.

Companies have unexpectedly dialed back benefits, which rose 0.3% in the second quarter, down from 0.6% in the first.

AD: High Museum of Atlanta

Businesses are being forced to offer higher compensation to attract workers, as customer demand has soared in the spring as the pandemic faded. Companies, particularly in the restaurant and retail industries, are offering sign-on bonuses, wages as high as $15 an hour, and benefits such as retirement plans and pet insurance.

The unemployment rate is elevated at 5.9% and millions of Americans are out of work, yet there are also a record number of job openings. Economists say it will take time for the unemployed to match with the right jobs.

Several trends are likely keeping some workers on the sidelines, adding to the pressure on companies to offer higher pay. Many people are worried about COVID-19 and are reluctant to work in jobs that require them to interact with the public. Others may be caring for children and unable to work until schools reopen.

And an extra $300 a week in unemployment benefits is likely allowing some of those out of work to hold out for higher-paying jobs. About 22 states have ended that benefit and it will expire nationwide Sept. 6.

Friday’s data comes from the Labor Department’s Employment Cost Index, which measures pay changes for workers that keep their jobs. Unlike some other measures of Americans’ paychecks, it isn’t directly affected by mass layoffs such as the pandemic job losses that occurred last spring. – AP

 

Tags: hiringJobsLabor Department
Previous Post

Euphoric Philippines, rewards greet Olympic gold winner home

Next Post

Olympic champ Sunisa Lee still focused on college, not fame

Georgia Asian Times

Georgia Asian Times

Related Posts

Worker pay rises strongly as businesses fight to fill jobs
Business

US adds a surprisingly strong 517,000 jobs despite Fed hikes

February 3, 2023
Biden goes after fees levied for flights, hotels and tickets
Business

Biden goes after fees levied for flights, hotels and tickets

February 2, 2023
Here’s what the Feds Quarter Point interest rate hike means for you
Business

Here’s what the Feds Quarter Point interest rate hike means for you

February 1, 2023
Anti-Asian hate ‘runs the gamut,’ racist Yelp reviews show
Business

Anti-Asian hate ‘runs the gamut,’ racist Yelp reviews show

February 1, 2023
Radioactive capsule that fell off truck found in Australia
Business

Radioactive capsule that fell off truck found in Australia

February 1, 2023
After Tesla price cut, Ford follows suit with Mustang Mach-E
Business

After Tesla price cut, Ford follows suit with Mustang Mach-E

January 31, 2023
Next Post
Worker pay rises strongly as businesses fight to fill jobs

Olympic champ Sunisa Lee still focused on college, not fame

Signup Free E-Newsletter

Upcoming Events

Feb 18
6:00 pm - 11:00 pm

Spring Festival 2023

View Calendar
Logo

 

CONTACT US

Follow Us

MOST INFLUENTIAL

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

July 18, 2022

Video highlights of GAT 25 Most Influential Asian Americans in Georgia

July 17, 2022

2022 GAT 25 Most Influential Asian Americans in Georgia-Awards Gala

July 17, 2022

LINKS OF INTEREST

ATL Asian Film Festival

GAT on Facebook

Lunar New Year of Rabbit - GAT Special Section
  • Contact Us
  • Advertise in GAT
  • ABOUT

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcast

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

Warning: unlink(/tmp/jnewsfirstload-Gbfnzi.tmp): No such file or directory in /home/customer/www/gasiantimes.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142