Rising Cost Of Moving Labor In Washington DC Explained – Benzinga – Press Release


Washington, May 13, 2022 (GLOBE NEWSWIRE) — Washington, District of Columbia –

McLean, VA based MyProMovers was recently covered by South Korean broadcaster MBC in a discussion of the macro-economic environment around labor, especially in Washington DC. Commonly referred to as ‘wageflation,’ the rising cost of labor is an aspect of the market that many are keeping a sharp eye on as it has many implications for the future and how prices for goods and services may fluctuate as time goes on.

The article in question explores how numerous logistics difficulties are being exacerbated — and sometimes caused — by a severe shortage of labor in the market. While turnover may have been high in a number of industries prior to the pandemic, companies could often depend on a steady influx of workers who were ready to make up the shortfall. However, following the pandemic, which forced many communities around the world into prolonged periods of isolation as a result of lockdowns, preferences in the workforce seem to have shifted, and this shift may be permanent.

As the article points out, younger workers are placing a higher emphasis on work-life balance, choosing to forego jobs with longer hours for opportunities to spend time with their families or invest in other pursuits. On the other hand, senior workers are also choosing to retire early, either for similar reasons or over concerns that they are at higher risk of adverse health effects during the pandemic (since Covid is known to hit the elderly particularly hard). To compensate, businesses have had to raise wage offerings in order to draw interest from workers, but this has also been reflected in a rise in prices.

Commenting on the cost of labor in the area, CEO of Logistics Company My Pro Movers DC Tusun Alkau states, “It has risen a lot. Compared to before the corona pandemic, we have to pay a whopping 30% more.” Companies in this industry operate on relatively tight margins, especially if they already strived to…