Companies that typically hire thousands of seasonal workers are heading into the holidays during one of the tightest job markets in decades.
. For shoppers, it might mean a less than jolly holiday shopping experience, with unstaffed store aisles and online orders that take longer than usual to fill.
“I’ve never seen a market like this,” said Matt Lavery, UPS’s global director of sourcing and recruiting, who has worked on the hiring side of the package delivery company for 24 years. “Normally when you’re talking about people coming off unemployment benefits, you see surges in candidates. We’re not seeing those.”
Not having enough workers can be costly for companies. FedEx said it spent $450 million between June and August due to higher wages, paying overtime and other costs related to the tight job market. Another potential wrinkle: President Joe Biden's announcement in September that employers with more than 100 workers will have to mandate vaccines or offer weekly testing. It’s unclear when those rules will start or how that would affect hiring. Companies that have already mandated vaccines have reported high rates of vaccinations. And a fully vaccinated workforce could make that employer more attractive to workers fearful of catching the virus.
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