It’s high time to celebrate the American workforce. While there are pockets of differentiation by industries, by and large, the average worker is making well-deserved gains. First, many have survived the existential threat of the pandemic, which unfortunately continues to affect where and how we work. But the American worker remains in the driver’s seat. In early August the government reported payrolls rose at the highest pace in a year. For hourly workers, companies like Kroger and Starbucks are offering signing bonuses and pay raises. Even in the hard-hit hospitality business, wages are up 6.6% over the past two years.
But if you’re an employer, these incentives may not be enough to stay competitive. While workers have a lot to celebrate right now, they’re restless. In fact, while you’re reading this, a new study shows that 65% of employees are looking for a new job.