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THE JOB MARKET IS A BUYERS’ MARKET

Staff Reporter | 2:12 PM |

"With too many job-seekers around compared with the number of jobs available, the job market is a buyers’ market, meaning that employers have the upper hand in dictating the terms and conditions of employment. In markets where supply exceeds demand, price falls. Likewise, where too many workers are chasing too few jobs, those who are able to get jobs, do so at the lowest terms employers can offer.
With the cost of living as high as it is, the majority of working people struggle financially. To some extent they struggle due to financial mismanagement, but much of the struggle is attributable to salaries which do not keep pace with increasing costs of living.

If you are looking for a job, this is the kind of market you are heading for. But is this the right place? You may answer “Yes”. You may say, “Anything is better than nothing”. That may be the correct answer right now in the immediate term. But what about the long-term?

My experience is that employers generally pay their employees just enough to keep them alive and working. Employers are always careful about expenses, and costs related to labour are usually high. It is not only wages but other expenses such as superannuation deductions, housing, leave fares, etc that they take into account. Usually they pay enough to keep their employees happy and returning to work for them."