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Rumors Greatly Exaggerated

For the first time in nearly two decades, the number of open jobs exceeded the number of unemployed Americans seeking work. One would expect Real Estate Professionals would be vying for the best job offer possible, moving as fast as those top dollars are proposed. In that is the rub. With the 2018 U.S. inflation rate hovering just over 2 percent, real wages for this year’s university graduates are virtually flat, 2.8 percent more than 2017. Companies are holding on to their talent and keeping them challenged with increasing opportunities that aren’t being filled. Why move unless for the lure of the offer you can’t refuse, which apparently is not right around the corner. DBSquared, a compensation software firm, believes as more and more higher paid Baby Boomers finally retire, salary dollars will realign and shift to the younger employees. “We should finally see annual salary budgets moving above 3 percent without adding significant new salary dollars.” I suspect, rumors of Baby Boomers finally retiring are greatly exaggerated.

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