3 ms·
If a shortage genuinely existed, you would see substantial wage growth. We don't have such wage growth. Actually we'd have growth in compensation (wages + ben
by yummyfajitas 10y ago
If a shortage genuinely existed, you would see substantial wage growth.
We don't have such wage growth.
Actually we'd have growth in compensation (wages + benefits). And we do, in fact, have that growth: https://fred.stlouisfed.org/series/COMPRNFB https://fred.stlouisfed.org/series/COMPRNFB
- fweespeech 10y agoI don't think you understand "substantial" in that context. The fact there is a consistent 50+ year trendline of compensation growth is simply caused by a combination of productivity gains and inflation. You'd see a 5%+ jump in a single year if a legitimate shortage existed. https://www.bls.gov/lpc/prodybar.htm https://www.bls.gov/lpc/prodybar.htm 2007-2015 : +1.3% (nonfarm productivity gains) 2007-2015 : +1.8% (manufacturing productivity gains) 2007-2015 : +1.2% (total compensation) Notice how similar these numbers are? That is a sign of normal compensation growth.