Economic growth has brought in a wave of optimism throughout the United States. Manufacturing is spreading, jobs are being created, unemployment rates are dropping, and the last domino is starting to fall. Wages are starting to increase. This is in large part due to employers simultaneously pursuing heavy expansion and investment across all sectors of the marketplace. So many jobs are being created, that employers are now having to compete with one another for potential employees.
Pressure to raise wages and working incentives is naturally occurring across the country. Marketwatch notes on the particular state of New York, which may be taken as representative of a national norm. “Like most other companies, manufacturers say one of their biggest problems is finding enough skilled workers to fill a high number of job openings,” Marketwatch reports.
For the greater American populace, this is a great problem to have. Whenever employers are struggling to find work, measures are forced to be taken in order to best draw potential employees to their business. In pursuit of continued growth, “companies say they plan to add more workers or increase hours for current employees, and in some cases, they are raising wages.”
Rising wages will continue to permeate throughout the marketplace as long as the labor supply remains restricted. If employers are forced to compete for the same finite pool of employees, the worker surely stands to gain. More and more often will workers gravitate to better working conditions and incentives, forcing employers that do not initially comply with the trend to offer more attractive employment opportunities.
A demand for manufacturing expansion and thus jobs is likely only to increase. For, “U.S. tariffs...have made it harder to obtain a steady source of supplies at reasonable prices,” according to Ian Shepherdson, chief economist of Pantheon Economics. Restricting access to overseas markets creates quite the incentive for manufacturing on the home front.
Pressures continue to stoke a demand for production investment and job creation within the nation. This inevitably leads to increasingly better opportunities for average Americans in the workforce.