Companies struggling to fill jobs 'should try paying more,' Fed's Kashkari says
Finally a respected economist who calls a spade a spade. There is no such thing as &quot;shortage&quot; of anything. Just pay more, and you&#x27;ll get it.<p>Now, here&#x27;s some alternatives for companies that can&#x27;t&#x2F;don&#x27;t want to pay more:<p>- offsource (but they know this already)<p>- automate (everyone is in a continuous process of automating what can be automated)<p>- hire temp workers (most likely they&#x27;ve been doing this for years)<p>- hire illegals (well, that&#x27;s illegal)<p>- lobby for more immigration (probably what Kashkari was answering to)<p>But here&#x27;s some <i>novel</i> alternatives:<p>- train people more. You hire them at lower qualifications, and educate them in house<p>- open source your tools, so people can train themselves for free, before applying for your job openings. Tensorflow, PyTorch anyone?<p>- offer training for interested outsiders. See the Udacity WorldQuant course in AI for trading [1].<p>- invest in STEM education to increase the general pool of qualified hires. I know of the Google initiative [2]<p>[1] <a href="https:&#x2F;&#x2F;www.udacity.com&#x2F;course&#x2F;ai-for-trading--nd880" rel="nofollow">https:&#x2F;&#x2F;www.udacity.com&#x2F;course&#x2F;ai-for-trading--nd880</a><p>[2] <a href="https:&#x2F;&#x2F;edu.google.com" rel="nofollow">https:&#x2F;&#x2F;edu.google.com</a>