(NewsNation) — Employers added 528,000 jobs in July, which is twice as many as economists expected, according to the Labor Department.
The unemployment rate also edged down to 3.5%, lower than the past four reports and the lowest level since the pandemic erupted two years ago.
There seem to be a lot of jobs out there, but where are the workers?
Some companies are rolling out the red carpet to court Gen Z and millennials with over-the-top perks including massages, “bring your dog to work” days, and even houses in the Hamptons.
Gen Z expert and entrepreneur Connor Blakely told NewsNation’s “Banfield” that the perks are only a “Band-Aid on a bullet hole.”
“Gen Z is one of the most entrepreneurial generations that have ever come into existence,” Blakely said. “I think during COVID, we had a lot of time to really figure out some of the lies that we’ve been told our entire lives.”
Meanwhile, critics say Gen Z expects too much.
“I think more than anything, Gen Z just craves a seat at the table that lends itself to a lot of different opportunities for reverse mentorship, to really have business impact and get things done,” Blakely said.
“Banfield” also spoke with employment experts Kate Duchene, chief executive officer of RGP, and Alexandra Von Tiergarten, senior regional vice president of Robert Half.
Duchene believes the added perks to chase talent aren’t sustainable and will actually backfire.
“What we’re seeing both in our client base and in our talent base, is that talent wants flexibility. They want transparency, they want choice, and they want to work with purpose,” Duchene said.
If companies can deliver a strong fundamental relationship with their employees, it doesn’t matter what the cafeteria is serving.
Tiergarten added that the workforce mentality has changed after the pandemic.
“They want that same flexibility to finish their work, just as they were able to do when they were home completely remote. They’ll go into the office a little bit, that’s OK. But they want that flexibility,” Tiergarten said.