It feels like almost overnight the job market started heating up. Goldman Sachs, JPMorgan CEO Jamie Dimon, the U.S. Department of Labor and Federal Reserve Bank chair Jay Powell all have pointed toward a strong “Goldilocks economy” and “jobs boom.” It now looks like workers will be in the driver’s seat.
Once you cast off all of the negative sentiment that we’ve been going through, this makes rational sense. Millions of Americans have received vaccinations. The federal government flooded the economy with trillions of dollars to stimulate businesses. President Joe Biden plans to spend trillions more on an historic infrastructure and green energy program that he believes will create millions of new jobs. Many cities and states have either loosened restrictions or opened up. Last week, New York City Mayor Bill de Blasio called for New York to open by July 1, which was unimaginable six months ago.
Online job postings have hit new highs with over 7 million listings. Restaurants can’t find enough help. Big banks have offered Peloton bikes, raises and bonuses to retain and keep young bankers happy. Leading companies, such as Google, Microsoft, Facebook, JPMorgan and Goldman Sachs, called for people to return to the office.
For the better part of the last year, many people were sheltering in their jobs, biding time until the Covid-19 situation changed. Now, they’re…