In the last two years, cities and states have made headlines by establishing a $15-per-hour minimum wage for businesses operating within their geographic limits and retailers announcing they will hike their minimum wage for hourly employees up to $15-per-hour over the coming months or year. Additionally, federal legislation has been introduced to raise the minimum wage from $7.25 to $15 an hour. According to HR Executive, this would likely reduce the financial stress of lower-paid workers. However, for retailers, the challenges in today's labor market go far beyond increasing wages. Though present before this COVID-19 crisis, and likely increased now, there are five specific trends, now concerns, that can be seen.
The severe shock to the #oil industry caused by the #COVID19 pandemic is far worse than previous #recessions . https://t.co/sbmMJ8QgGy by @WorldBank and @IEA via @BRINKNewsNow #economy #energy https://t.co/ZsuReo9HuW
The most in-demand #jobs in the world’s major economies are still driven by technology, but people-facing jobs are rising in the ranks. https://t.co/JNMgDjVObY by @LinkedIn via @BRINKNewsNow #FutureofWork #DigitalTransformation #AI https://t.co/sKMJhA0QgB
Did you know that amongst the #COVID19 pandemic, 128 million Americans are at #risk of flooding this spring and #Europe braces for what could be the latest in a string of intense summer heat waves? Learn more in our new #podcast . https://t.co/P54rg8U8VC #environment #economy https://t.co/NyS2qxPiQ1
RT @GuyCarpenter : Among the most complex and multi-faceted risks for societies today are those related to cyberattacks, which are extremely…
RT @OliverWyman : We are encouraged to see shopping attitudes continue to rise as more consumers are comfortable resuming public life. Stay…
Global investors are no strangers to a #risk like #COVID19 . @Mercer's @Rich_Nuzum explains how established #investment principles can tackle the world's largest challenges while still pursuing a return. https://t.co/8Gpe7fex6c via @wef #economy #investment s #leadership https://t.co/8tlsgUzEKC