The State of the Economy Thread - “Falling inflation, rising growth give U.S. the world’s best recovery”

[PleaseBlitz]

11 minutes ago, The Evil Genius said:

I thought quiet quitting is what my slacker Gen X brothers and sisters had been doing since we entered the workforce?

 

Wait..you mean that was only me that figured out that going above and beyond only brought more work and nothing else? 

 

It is/was, but now it has a snappy new name and trended on Twitter, and Gen Z likes to think of themselves as breaking norms, even when they really aren't. 

[Renegade7]

There's nothing unique about setting healthy boundaries at work.

 

Corporation America trying to find another way to shame their workers...I'm gonna give my 110% regardless, but have warned my fellow co-workers about working off the clock if for any reason it hurts our justification we need more resources to stop the feel to need to do that in the first place.

[The Evil Genius]

The next step here will be telling people they can work from home..100%..but they have to take a 20-30% pay cut.

 

🙄

 

Despite most metrics I've seen showing the majority of businesses are coming out ahead productivity and cost wise with remote workers. 

[88Comrade2000]

2 minutes ago, The Evil Genius said:

The next step here will be telling people they can work from home..100%..but they have to take a 20-30% pay cut.

 

🙄

 

Despite most metrics I've seen showing the majority of businesses are coming out ahead productivity and cost wise with remote workers. 

I saw an article on just that. You want to work at home, you earn less.

[The Evil Genius]

3 minutes ago, 88Comrade2000 said:

I saw an article on just that. You want to work at home, you earn less.

 

I'd say that concept is outdated by about 30 months. 

[tshile]

49 minutes ago, The Evil Genius said:

I thought quiet quitting is what my slacker Gen X brothers and sisters had been doing since we entered the workforce?

 

Wait..you mean that was only me that figured out that going above and beyond only brought more work and nothing else? 

Most of your career was government? Right? I think that’s the general sentiment of government workers. Everyone I’ve always known says it or some form of it. 
 

in the private sector I have found it to result in lots more money, great referrals for great opportunities, and extended unwritten benefits (like basically calling your own shots on time off and hours worked and when you come in/leave) for both my wife and I. 
 

We’ve both reached a point where we go in when we want, leave when we want, work the hours we want, tracking time off isn’t even done cause our bosses just let us do whatever we want. And through it all have references where we can go do what we want (within reason) if we wanted to make a change (like I just did)

 

I respect work life balance very highly - but my friends doing the “that’s not in my job description” don’t see how that’s (potentially) hindering them the way I do

Edited August 24, 2022 by tshile

[tshile]

22 minutes ago, The Evil Genius said:

The next step here will be telling people they can work from home..100%..but they have to take a 20-30% pay cut.

 

🙄

 

Despite most metrics I've seen showing the majority of businesses are coming out ahead productivity and cost wise with remote workers. 

 

19 minutes ago, 88Comrade2000 said:

I saw an article on just that. You want to work at home, you earn less.

 

15 minutes ago, The Evil Genius said:

 

I'd say that concept is outdated by about 30 months. 

On this specifically I have a lot of debate/discussion time with. 
 

Look - the IT field was ahead of everyone on this. Work from home was a thing long before Covid. Full time remote work was as well. And no - there was no pay reduction involved. In fact, before Covid it was done to acquire talent that couldn’t otherwise be acquired, either because they physically just aren’t in the area or the person understood their value and leveraged it for this benefit without a reduction in pay. 
 

my professional circles have been watching this unfold and talking about it a lot since Covid started. 
 

In my field it’s expanded as have other benefits. Top tier SRE roles are running at 175-250k/year with additional benefits bringing TCP up over 400k. There’s no pay reduction here. 
 

but here’s the kicker - it’s all about the competition in the market. And one thing that ****s this all up is government jobs because they’re creating rules for such a large number of people, they tend to have the ability to set the trend. Private sector (specifically ones they work with the government like defense contractors) will take their cues from them. 
 

but if employees make it so that employers have to accept remote workers (full time or not) in order to get the right people, without a pay cut, then that’s what will happen. If employees allow employers to reduce their pay to accommodate their remote work then that’s what will happen. 
 

my field is set. We’ve reached a point where salary is maxed and additional benefits are the only way to attract the top people. 
 

the rest of you gotta fight for it. If you just roll over on the topic then they’ll take advantage of it. 

Edited August 24, 2022 by tshile

[PleaseBlitz]

I'll start a thread on this.  

[gbear]

Reducing pay for work from home is silly unless the company is giving something else to set up the home.  Granted, it's a win win for them if they can reduce pay.  Then they pay less for the physical space to work and for the workers.

[@DCGoldPants]

18 minutes ago, gbear said:

Reducing pay for work from home is silly unless the company is giving something else to set up the home.  Granted, it's a win win for them if they can reduce pay.  Then they pay less for the physical space to work and for the workers.

 

it's a rip off. I work from home and have for a decade. I don't cost anyone electricity, a space to clean, anything extra stocked in the kitchen, etc. They are already saving money if you're productive and not losing time also for a commute. 

[JamesMadisonSkins]

1 hour ago, gbear said:

Reducing pay for work from home is silly unless the company is giving something else to set up the home.  Granted, it's a win win for them if they can reduce pay.  Then they pay less for the physical space to work and for the workers.

 

I switched jobs a few months ago. Took just a little less $$ to move offices from NOVA to Richmond, but am allowed to work from home 3-4 days a week. I moved to the Shenandoah Valley, my wife slowed down her business and is home with the kids, we bought a dream home, and we are more financially stable than we ever were in NOVA on 2 income where we were renting and had no chance of buying.

It blows my mind that more people aren't considering this option even if they have to go into the office part time. You can make the same money, go into the office 1x a week or less (with a long commute on that one day) and live 2+ hours outside of your home base and be so much more financially secure. 

 

I think people have already figured this out, and the urban to rural exodus is just beginning.

 

If you work in tech, can be fully remote and make $150-200k, why would you choose to live in a high cost of living area?

Edited August 24, 2022 by JamesMadisonSkins

[JamesMadisonSkins]

30 minutes ago, JamesMadisonSkins said:

 

If you work in tech, can be fully remote and make $150-200k, why would you choose to live in a high cost of living area?

 

I will also say that I understand there are more things that tie people to a geographic area. But you can find highly amenitized , qualify of life areas in much cheaper places to live, and usually within a 1-2 hour radius of wherever that geographic tie might be. 

[hail2skins]

Any idea on what the inflationary impacts of the $10k student loan relief will be? 

[CousinsCowgirl84]

15 minutes ago, hail2skins said:

Any idea on what the inflationary impacts of the $10k student loan relief will be? 

I doubt it will be a huge impact. I’d it was 10k all at once it would be different but you are talking about at most a 100 dollar impact to the monthly budget and most of that is probably already spoken for, since there has already been loan payment deferment for a while now.

[GhostofSparta]

6 hours ago, The Evil Genius said:

I thought quiet quitting is what my slacker Gen X brothers and sisters had been doing since we entered the workforce?

 

Wait..you mean that was only me that figured out that going above and beyond only brought more work and nothing else? 

Maybe you could invent some sort of Quiet Quit-inator and help everybody out (or at least a tri-state area)?

[Cooked Crack]

 

 

[PeterMP]

On 8/24/2022 at 2:18 PM, hail2skins said:

Any idea on what the inflationary impacts of the $10k student loan relief will be? 

 

Minimal and likely unmeasurable.  Also remember, it doesn't apply to everybody.  Only government loans and if you make below the threshold.  A lot of what is being forgiven was never going to be repaid anyway.  Coupling it with restarting the payments is likely to minimize any affect on inflation.

 

https://www.cbsnews.com/news/student-loan-forgiveness-biden-inflation/

 

https://www.theatlantic.com/ideas/archive/2022/08/biden-student-debt-cancelation-stiglitz/671228/

 

"A closer look at the student-debt-cancellation program suggests that the new student-loan policy may even reduce inflation; at most, its inflationary impact will be minuscule, and the long-term benefits to the economy are likely to be significant."

[Cooked Crack]

 

[Cooked Crack]

 

[skinsmarydu]

I'd want my wages in scoops. 

[TheGreatBuzz]

Here in the Ozarks, I make $15/hr checking bags and IDs at a bar.  

 

*I also get a 50% employee discount on food and drinks.  That's why I really have that job.  I've made far more with my discount than I have in paid hours.  My last check was $41 for two weeks.

[Larry]

Damn Joe Biden for creating all these jobs. He's driving up the pay of lower class people who are working. 

[CousinsCowgirl84]

1 hour ago, Larry said:

Damn Joe Biden for creating all these jobs. He's driving up the pay of lower class people who are working. 

Except that isn’t what is happening

[TradeTheBeal!]

5 hours ago, CousinsCowgirl84 said:

Except that isn’t what is happening

Don’t.

[CousinsCowgirl84]

7 minutes ago, TradeTheBeal! said:

Don’t.

Hey I like what Biden is doing but that doesn’t mean I can’t be intellectually honest about the economy.

 

@spjunkieswhat are you a trumper disagreeing with facts?

Edited September 5, 2022 by CousinsCowgirl84