Amazon offers bonuses in aim to hire 150,0000 seasonal workers

Yahoo Finance's Ines Ferre joins the Yahoo Finance Live panel with the latest on Amazon hiring bonuses for seasonal workers.

Video transcript

AKIKO FUJITA: Ines, we also got that announcement from Amazon. They're going to be hiring up in a big way for the holiday season. It's a huge number. I'm just wondering where they're going to find the workers when we've talked so much about a labor shortage.

INES FERRE: Yeah, and that's really the question, is, whether they're going to be able to hire 150,000 seasonal workers. Because this company and other companies-- I mean, you had Nordstrom last week saying that it was going to be hiring some 28,000 workers ahead of the holiday season-- they're all vying for workers to go to work at their companies. And they're giving out bonuses. They're giving out salaries that are larger than when-- in 2019, for example.

So Amazon is offering a minimum of $18 an hour, plus another $3 an hour in certain cities. It's also offering a sign-on bonus of up to $3,000. I checked back in 2019, what the company was offering. It was offering at least $15 an hour for those same seasonal workers. So you can see where the wage increases have been this year, as we've seen inflation everywhere, including in the market. In this tight, tight labor market, as these companies are scrambling to hire workers ahead of the busiest time of the year.

ZACK GUZMAN: Yeah, things are going to get crazy. This is a holiday season I think that could surprise a lot of people, not just when it comes to labor shortages, but also the product shortages we've been documenting here as well. Ines Ferre bringing us the latest there. Appreciate--