McDonald, Krueger on Employer, Worker Sentiment and Wages

The video discusses changes in the workforce over the past 17 years, focusing on unemployment rates and the high demand for skilled workers. Companies are adopting creative hiring strategies, emphasizing cultural fit and soft skills due to the difficulty in finding candidates who meet all job requirements. This has led to multiple job offers for qualified individuals, driving up wages. However, companies are also investing in training to manage costs. The growth of temporary help has allowed firms to address bottlenecks without raising wages across the board, contributing to sluggish wage growth in recent recoveries.

What role do cultural fit and soft skills play in the current job descriptions?

In what ways are companies utilizing temporary help to manage workforce needs?