Stock Market/Investing/Day Trading/Speculative Trading Thread

[God is a Husker]

@Jim14510

 

[Toe]

@Jim14510

Some said it was all because Uncle Sam was giving extra unemployment and stimulus payments to those who needed it, and as soon as those were gone there would be a mad stampede to fill jobs again. Gee, that didn't fucking happen, did it?

The formula for finding more workers is the same now as it's always been: pay them an honest living wage (not a bare subsistence wage) that's actually worth it for the work involved. You don't hear about a company like say Boeing putting out signs saying they're short staffed and can't find enough workers, This is almost entirely a problem affecting companies that don't pay worth shit. Minimum wage hasn't been raised in over twelve years, and it was a paltry sum even then. And Americans still struggle to get basic things like healthcare.

For a lot of people, their jobs were just barely worth it before. Take those conditions, which are still continuing and getting worse all the time, and throw in all the extra shit involved with working during a pandemic, and for a lot of people, those poverty-wage jobs have now fallen below the line where it just Ain't. Fucking. Worth it.

 

[Alcaus]

@Jim14510

Some said it was all because Uncle Sam was giving extra unemployment and stimulus payments to those who needed it, and as soon as those were gone there would be a mad stampede to fill jobs again. Gee, that didn't fucking happen, did it?

The formula for finding more workers is the same now as it's always been: pay them an honest living wage (not a bare subsistence wage) that's actually worth it for the work involved. You don't hear about a company like say Boeing putting out signs saying they're short staffed and can't find enough workers, This is almost entirely a problem affecting companies that don't pay worth shit. Minimum wage hasn't been raised in over twelve years, and it was a paltry sum even then. And Americans still struggle to get basic things like healthcare.

For a lot of people, their jobs were just barely worth it before. Take those conditions, which are still continuing and getting worse all the time, and throw in all the extra shit involved with working during a pandemic, for a lot of people, those poverty-wage jobs have now fallen below the line where it just Ain't. Fucking. Worth it.

What are they doing in the meantime?

 

[RedSavage]

There are a ton of companies that are or already have raised their minimum pay and at least as far as I can tell, that's not really helping. Hell, even the local Casey's is now offering to start people off at $16/hr. I think that's a pretty decent wage for a job like that.

 

[BingoDingo]

Brandon is killing it

Was hoping good numbers would come so taper would be able to start this month...but who the fuck knows now.

 

[BingoDingo]

@Jim14510

Some said it was all because Uncle Sam was giving extra unemployment and stimulus payments to those who needed it, and as soon as those were gone there would be a mad stampede to fill jobs again. Gee, that didn't fucking happen, did it?

The formula for finding more workers is the same now as it's always been: pay them an honest living wage (not a bare subsistence wage) that's actually worth it for the work involved. You don't hear about a company like say Boeing putting out signs saying they're short staffed and can't find enough workers, This is almost entirely a problem affecting companies that don't pay worth shit. Minimum wage hasn't been raised in over twelve years, and it was a paltry sum even then. And Americans still struggle to get basic things like healthcare.

For a lot of people, their jobs were just barely worth it before. Take those conditions, which are still continuing and getting worse all the time, and throw in all the extra shit involved with working during a pandemic, and for a lot of people, those poverty-wage jobs have now fallen below the line where it just Ain't. Fucking. Worth it.

We will definitely see a boost I'm October/November hiring for sure. Delta coming down and pandemic assistance ending should mean good things...but yeah, no one wants to flip burgers at McDonald's for 12 bucks an hour when there are abundant alternatives at 4-5 bucks an hour more. Fast Food better get them Robots working...

 

[Jim14510]

@Jim14510

Some said it was all because Uncle Sam was giving extra unemployment and stimulus payments to those who needed it, and as soon as those were gone there would be a mad stampede to fill jobs again. Gee, that didn't fucking happen, did it?

The formula for finding more workers is the same now as it's always been: pay them an honest living wage (not a bare subsistence wage) that's actually worth it for the work involved. You don't hear about a company like say Boeing putting out signs saying they're short staffed and can't find enough workers, This is almost entirely a problem affecting companies that don't pay worth shit. Minimum wage hasn't been raised in over twelve years, and it was a paltry sum even then. And Americans still struggle to get basic things like healthcare.

For a lot of people, their jobs were just barely worth it before. Take those conditions, which are still continuing and getting worse all the time, and throw in all the extra shit involved with working during a pandemic, and for a lot of people, those poverty-wage jobs have now fallen below the line where it just Ain't. Fucking. Worth it.

Great logic and that's the current narrative but I don't believe it's the main reason. I've got retail clients hiring at $20/hour for cashiers still short staffed. It took me 3 months to find 2 employees. I got dozens of resumes and couldn't even get an email/call back most of the time.

You say Boeing isn't struggling to find people. First of all not a great example as the travel industry is still down but that's beside your point. Second do you actually know if higher end jobs are not struggling? My sample size is small but I have a range of small employers and anyone looking for employees are struggling to find people. Not just the laborers/entry level jobs.

Those same people are raising hourly/salary rates and that has made zero difference. Having said all that my experience is very narrow and limited to 95% Omaha area. Story is no different with a couple of Denver, Chicago clients (entry level jobs).

 

[Jim14510]

We will definitely see a boost I'm October/November hiring for sure. Delta coming down and pandemic assistance ending should mean good things...but yeah, no one wants to flip burgers at McDonald's for 12 bucks an hour when there are abundant alternatives at 4-5 bucks an hour more. Fast Food better get them Robots working...

McDonalds has signs in the window "starting at $18/hour" here in Omaha ftr.

 

[God is a Husker]

@Jim14510

Some said it was all because Uncle Sam was giving extra unemployment and stimulus payments to those who needed it, and as soon as those were gone there would be a mad stampede to fill jobs again. Gee, that didn't fucking happen, did it?

The formula for finding more workers is the same now as it's always been: pay them an honest living wage (not a bare subsistence wage) that's actually worth it for the work involved. You don't hear about a company like say Boeing putting out signs saying they're short staffed and can't find enough workers, This is almost entirely a problem affecting companies that don't pay worth shit. Minimum wage hasn't been raised in over twelve years, and it was a paltry sum even then. And Americans still struggle to get basic things like healthcare.

For a lot of people, their jobs were just barely worth it before. Take those conditions, which are still continuing and getting worse all the time, and throw in all the extra shit involved with working during a pandemic, and for a lot of people, those poverty-wage jobs have now fallen below the line where it just Ain't. Fucking. Worth it.

We will definitely see a boost I'm October/November hiring for sure. Delta coming down and pandemic assistance ending should mean good things...but yeah, no one wants to flip burgers at McDonald's for 12 bucks an hour when there are abundant alternatives at 4-5 bucks an hour more. Fast Food better get them Robots working...

I haven’t seen underpaying for low end jobs for a few years now. As others have already mentioned places like Casey’s and Walmart are offering $15+hr starting + $3,000 signing bonuses I don’t think the answer is blaming businesses for “poverty wage jobs”.

My local McDonalds has a big sign offering $18.50/hr + full time benefits + $2,500 sign on bonus + $2,500 student loan payment/tuition assistance.

But hey, McDonalds and Walmart are good finger pointing targets. Blame em all you want, you might be correct. Somebody still in high school or some older person with no education might be refusing to work for that salary.


Personally, we have been drowning due to short staffed. We aren’t mega corporations like McDonalds/WM so we aren’t offering sign on bonuses or tuition payments… but start house keepers at $18/hr and once they have proved themselves (usually 3 months) they move to $9 per room (good house keepers can do 3-4 rooms a hour).

We start front desk at $20/hr for the morning/afternoon shifts and $24 for nights.


Still can’t find enough employees.

PS: $20/hr with Nebraska’s low cost of living is ridiculous for somebody without a GED and can hardly speak English. Idk what you expect us to pay, when we are short staffed my mother in law or my wife or I do the rooms. The job doesn’t have an education requirement or passing a bar exam or boards.

 

[God is a Husker]

PS PS: not trying to fight or w/e, just honestly wonder what you guys think a fair wage would be for a house keeper. My in laws all grew up in a 3rd world country (India and Africa) and my wife moved to the USA from Africa when she was 14. Trust me, we all empathize with our employees and treat them very well. I’d say my in laws provide food for the staff at least 3 times a week, usually more. I personally feel that we pay very well and above market. (hotel industry)

 

[BingoDingo]

Great logic and that's the current narrative but I don't believe it's the main reason. I've got retail clients hiring at $20/hour for cashiers still short staffed. It took me 3 months to find 2 employees. I got dozens of resumes and couldn't even get an email/call back most of the time.

You say Boeing isn't struggling to find people. First of all not a great example as the travel industry is still down but that's beside your point. Second do you actually know if higher end jobs are not struggling? My sample size is small but I have a range of small employers and anyone looking for employees are struggling to find people. Not just the laborers/entry level jobs.

Those same people are raising hourly/salary rates and that has made zero difference. Having said all that my experience is very narrow and limited to 95% Omaha area. Story is no different with a couple of Denver, Chicago clients (entry level jobs).

Cashiers being hired at $20 bucks and hour and McDonald's hiring at $18.50 is definitely not the norm at all so I'm not sure that changes much from what I posted.

We know that most of the labor shortages are low wage, low skill labor because of job opening data and slack difference from pre-pandemic figures. Most well paying jobs recovered in terms of employment numbers in the past few months.

 

[BingoDingo]

PS PS: not trying to fight or w/e, just honestly wonder what you guys think a fair wage would be for a house keeper. My in laws all grew up in a 3rd world country (India and Africa) and my wife moved to the USA from Africa when she was 14. Trust me, we all empathize with our employees and treat them very well. I’d say my in laws provide food for the staff at least 3 times a week, usually more. I personally feel that we pay very well and above market. (hotel industry)

I wasn't making a qualitative statement on what wages should be...just simply looking at the reality of the situation, it's clear they will have to provide more in wages in order to attract more willing workers. That's just a fact...given that McDonald's is paying $18.50 I'm Omaha shows that's actually what IS happening.

 

[Jim14510]

Cashiers being hired at $20 bucks and hour and McDonald's hiring at $18.50 is definitely not the norm at all so I'm not sure that changes much from what I posted.

We know that most of the labor shortages are low wage, low skill labor because of job opening data and slack difference from pre-pandemic figures. Most well paying jobs recovered in terms of employment numbers in the past few months.

So the shortages are only low paying jobs outside of the midwest? Would kind of make sense with the rent moratorium still going on in those places. Still doesnt explain what's going on here.

 

[BingoDingo]

So the shortages are only low paying jobs outside of the midwest? Would kind of make sense with the rent moratorium still going on in those places. Still doesnt explain what's going on here.

Only outside of the Midwest? If they are offering $18.50 for a job at McDonald's in Omaha then they are definitely experiencing labor shortages, lol.

 

[Faux Sean Callahan]

 

[jaihawk]

So the shortages are only low paying jobs outside of the midwest? Would kind of make sense with the rent moratorium still going on in those places. Still doesnt explain what's going on here.

What no one wants to talk about is the change in attitude that the low skilled folks have from sitting at home for the better part of 2 years. By giving them all of that extra money, plus the various moratoriums (rent, utilities, free internet), you have quite a few folks that have developed an over-inflated value of what they are worth. It's like the kid who's always been a loser and he finds out that one girl thought he was cute and the next thing you know, he's walking around like he's the captain of the football team, when in reality he's the same loser he always was (sorry Jim if that analogy hits too close to home).

I've heard a million of those conversations... Why would I go back to work for $15/hour when I've been making almost twice that for the last two years thanks to the Government subsidies? Now I think I'm worth $30/hour when in reality, I'm not.

 

[Jim14510]

Only outside of the Midwest? If they are offering $18.50 for a job at McDonald's in Omaha then they are definitely experiencing labor shortages, lol.

Not following. So Midwest (broad term that's really just Omaha area to me) is having labor shortages but not limited to low end jobs. Wages isn't the issue because they're offering higher wages and still having shortages.

Outside Midwest you're saying labor shortages are limited to low end jobs and our paying higher wages here is abnormal. Outside of my small world still could be not paying enough. A lot of the coasts/Illinois still have rent moratoriums. So no idea what the bigger issue is there.

What is the issue here? It's not unemployment benefits, it's not low paying, it's not rent moratoriums. Wtf?

 

[Jim14510]

What no one wants to talk about is the change in attitude that the low skilled folks have from sitting at home for the better part of 2 years. By giving them all of that extra money, plus the various moratoriums (rent, utilities, free internet), you have quite a few folks that have developed an over-inflated value of what they are worth. It's like the kid who's always been a loser and he finds out that one girl thought he was cute and the next thing you know, he's walking around like he's the captain of the football team, when in reality he's the same loser he always was (sorry Jim if that analogy hits too close to home).

I've heard a million of those conversations... Why would I go back to work for $15/hour when I've been making almost twice that for the last two years thanks to the Government subsidies? Now I think I'm worth $30/hour when in reality, I'm not.

But at some point they have to go back to work for $15/hr. You know they didn't save the extra money. Is it just short lived that they saved up enough to coast for 3-6 months?

 

[Faux Sean Callahan]

Silver really took off too.

I've done fairly well trading options off silver.

 

[Faux Sean Callahan]

Minimum wage hasn't been raised in over twelve years, and it was a paltry sum even then. And Americans still struggle to get basic things like healthcare.

Who gives a flying fuck about minimum wage. You want more fucking money bring more fucking value to the work place.

Should get rid of fucking minimum wage.