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Response to Tomconroy (Reply #11)

Wed May 19, 2021, 12:55 PM

18. So it's significant

People here tend to try to poo poo these announcements, but it's very good news and they're setting the standard for their industry. There's competition for workers right now, other banks are going to have to pay to attract and keep the people they want.

Same with Amazon, they're hiring at $17 an hour makes the other warehouses in the region have to pay more or risk losing their labor.

And there's this thought that when UE runs out, there will be a massive wave of people looking for work. The UE rate is 6%, that's not very high, there will be people looking for jobs, but it's not going to be some huge wave. And for restaurants, I've got news for those managers and owners, your line cooks, bussers, and wait staff might not be coming back, they might be making $17 an hour at Amazon right now with benefits and a guarantee of steady work.

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