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Jobless push desperate employers to jack up wages to record levels

By Oregon Small Business Association

Employers are desperate for employees, and workers know it. There is rush to rejoin the workforce since Biden extended the $1,200/month jobless bonus effectively paying people more to stay home rather than work.

The average wage being requested on job search websites by has risen to $19.43 according to DirectlyApply.com.  A starting wage of $19.43 minimum reflects a new reality that job seekers are afforded.

The average hourly wage at food and drinking establishments soared to its highest level ever in March at $16.28 an hour, according to the U.S. Labor Department.

McDonald’s announced a 10 percent average increase at many of its restaurants, boosting hourly wages to between $11 and $17 an hour. White Castle and Chipotle increased to $15/hour.

The trend could pressure smaller businesses to raise wages simply to recruit enough workers but how will these businesses perform finally over the long run? That remains to be seen.