Quantity and quality are two characteristics most of us consider when evaluating a purchase. For example, in looking at homes or apartments, we take account of square footage but also the amenities – like storage, age of appliances, and views – in the structure. But does this evaluation of quantity and quality extend to other areas, such as the job market?
- Certainly does, and beginning to hear the discussion shift
- During initial years past the Great Recession, focus was on jobs – getting jobs back
- Now with unemployment rate around 4%, surplus of labor is tight
- So seeing more focus on quality, both for workers and employers
- Workers now looking more at pay, benefits, working conditions
- In response, companies are offering higher pay, more flexibility, and even attractions like paying down on worker’s college loans; will continue
The Economic Perspective is an NC State Extension program from the Department of Agricultural and Resource Economics