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Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by adamsiem on Tuesday April 20, 2021 @10:43AM (#26875359)
That’s not a market rate. How would you handle the remaining team’s wages? What do you do with that elevated rate if/when the job market returns?
Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by chrisseaton on Tuesday April 20, 2021 @10:51AM (#26875481)
> That’s not a market rate.

What do you think 'market rate' means? If you aren't able to hire for $14 but someone else is for $18... then $14 is clearly not the market rate and $18 is. That's what a market rate is - the rate things are selling for in the market.

Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by lhorie on Tuesday April 20, 2021 @10:59AM (#26875599)
> I assume they are increasing their hourly rate due to

Doesn't that maybe suggest that $18/hr is probably the current market rate then? My understanding of market rate is "amount at which the two parties are willing to negotiate", not "amount that the employer wants to lock in at, all other factors be damned"

If one can't afford to pay competitive wages, that may suggests they're not actually financially healthy enough to stay in business.

Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by falcolas on Tuesday April 20, 2021 @10:51AM (#26875476)
If you can't get a worker for the "market rate", perhaps the hard answer is that $14 is no longer the actual market rate, and you need to offer more money to get employees.

I live in a 50k poulation town, and $14 is not a living wage.

Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by jolux on Tuesday April 20, 2021 @10:59AM (#26875602)
What do you mean when you keep saying “market rate?” You describe your competitors poaching your employees by paying them more, and saying it’s not fair because you can’t pay them that. Tough shit buddy! Sounds like you’re paying below market.
Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by offtop5 on Tuesday April 20, 2021 @10:53AM (#26875505)
Same reason contracts pay more than salary.

If someone can Doordash, etc, and make more( while arguably dealing with less stress) they'll rationally do that.

Or since this is HN, can you automate some of these tasks ?

Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by izend on Tuesday April 20, 2021 @10:48AM (#26875424)
Increase prices? And if you are having a problem hiring how can you be sure you are offering market rate? The market rate has increased due to PPP1/2.
Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by xboxnolifes on Tuesday April 20, 2021 @11:11AM (#26875751)
market rate is whatever people are willing and able to be paid to do the work at.
Re:Unemployment Is High. Why Are Businesses Struggling to Hire? by xwolfi on Tuesday April 20, 2021 @10:54AM (#26875533)
But what if the supply gets tighter ? The market rate must adapt (since it's a market). You may have to raise everyone or hire no one new, or vote for a communist 5-year plan.

Imagine if instead everyone wanted to work at your restaurant, EVERYONE, you'd fire your 6 guys and pay $2 their replacement, no ?