NJ doesn't though........ I still hold hope for the guy.... It's capitalism, purely and simply.... One succeeds by embracing it.....
What we're seeing is an increasing quit rate from retail jobs. That is, people are staying in such jobs for shorter periods of time, going off and looking for (and presumably finding) something better ever more often. And even at the lowest levels of the labour market it does cost something to find a new worker, train them to whatever minimal standard and generally get them up to speed. For a professional worker it's thought to be about 18 months wages and while it will obviously be less than that in front of house retail it still won't be chopped liver.
So that's part of it, it's the Henry Ford $5 a day thing again. No, he did not raise wages so that people could afford his cars. That simply won't work at all. Rather, he had a vast turnover of staff and it was actually cheaper, on net, to pay staff more but to retain them once they'd been trained and not have to go through the recruitment process again.
http://www.forbes.com/sites/timworstall/2015/03/05/the-fed-knows-why-walmart-raised-wages/?utm_campaign=yahootix&partner=yahootix
What we're seeing is an increasing quit rate from retail jobs. That is, people are staying in such jobs for shorter periods of time, going off and looking for (and presumably finding) something better ever more often. And even at the lowest levels of the labour market it does cost something to find a new worker, train them to whatever minimal standard and generally get them up to speed. For a professional worker it's thought to be about 18 months wages and while it will obviously be less than that in front of house retail it still won't be chopped liver.
So that's part of it, it's the Henry Ford $5 a day thing again. No, he did not raise wages so that people could afford his cars. That simply won't work at all. Rather, he had a vast turnover of staff and it was actually cheaper, on net, to pay staff more but to retain them once they'd been trained and not have to go through the recruitment process again.
http://www.forbes.com/sites/timworstall/2015/03/05/the-fed-knows-why-walmart-raised-wages/?utm_campaign=yahootix&partner=yahootix
