WLWT: UC economics professor says workers hold bargaining power in labor shortage
Local businesses offer incentives to attract new employees
Companies are offering training reimbursement, signing bonuses and other incentives to bring on new employees as the holiday season approaches.
Michael Jones, an associate professor of economics at the University of Cincinnati's Carl H. Lindner College of Business, said in a recent conversation with WLWT that workers are in an advantageous position.
“Right now, we have over 11 million job openings, and there’s only 7.5 million people that are unemployed,” Jones said. “And so, the worker has the bargaining power right now.”
Among the companies looking to entice new employees are the Southwest Ohio Regional Transit Authority’s Metro bus service, which will reimburse the fees associated with acquiring a commercial driver's license and provide a signing bonus after three months on the job. Amazon is offering bonuses up to $3,000 for new delivery and warehouse employees.
Jones also noted that a driver shortage in the trucking industry means those fresh out of truck driving school can make six figures right off the bat, which wasn’t the case five to 10 years ago.
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