Blame it largely on the pandemic, which weakened the hold the workplace held on people’s psyches
By outward appearances, the labor market today looks much as it did before the pandemic. The unemployment rate is just as low, the share of adults in the labor force is just as high, and wages are growing at roughly the same pace after inflation.
But beneath the surface, the nature of labor has changed profoundly. Career and work aren’t nearly as central to the lives of Americans. They want more time for their families and themselves, and more flexibility about when, where and how they work.
The impact of this change can already be seen in both individual companies and the broader economy. It has led to a persistent shortage of workers, especially in jobs that seem less desirable because, for example, they require in-person work or fixed hours. That, in turn, has altered the bargaining position of employers and employees—forcing employers to adapt, not just by paying more but giving priority to quality of life in job offers.
To be sure, some of these changes arise from an exceptionally tight labor market. If unemployment rises, some of employees’ newfound leverage may evaporate.
Plus ça change…
This movie has defined my working life.
The fact that nothing much has changed about this in 25 years is an indictment of both our economy and society.
Oh it’s definitely changed. For the worse.
Compared to an open office the cubicles in Office Space look amazing.
They saw it and said, “how can we do this, exploit it, and pay them less?”
“How much more can we steal from them without getting our building burned down?”
“Just make sure they don’t have enough money to buy gas or matches and we’re golden!”
I don’t have a Swingline…
It was Marxisim 101 stuff that goes back well over a century. Peter was basically reinventing the premises on the spot.