Newsflash: Supply And Demand Works In The Job Market Too
Curse you, Adam Smith and your invisible hand: Competition between the many, many unemployed Americans for the very few open jobs is allowing employers greater leeway to negotiate on pay and benefits, according to a survey from the Society for Human Resource Management (SHRM).
“Nearly 15 percent of service-sector companies reduced pay and benefits for new hires in April compared with March, the survey found. Only 2 percent increased such compensation. The rest made no change in new-employee pay or didn’t hire at all.”
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in