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Another possibility: If the ability to learn new skills and trades has never been easier, and there is a surplus of labor that can absorb these skills, this wil
by TheCowboy 11y ago
Another possibility: If the ability to learn new skills and trades has never been easier, and there is a surplus of labor that can absorb these skills, this will help keep wages low for an extended period of time. Global and national population growth numbers can support this view.
People point to regional variation, like wage growth in SV, as evidence of real wage growth. But even that isn't so simple when you have high living expenses and the expectation that they will keep going up. Firms need to offer wages that allow a lifestyle competitive with one provided in Anywhere, America.
But it's likely a combination of multiple causes than one factor or another.