5 ms·
This is exactly right. Relative to 2007, my friend's 2008 income fell 40%. In 2009 it was 50% higher than 2007. Layoffs are less likely when wages are flexible.
by silverlake 16y ago
This is exactly right. Relative to 2007, my friend's 2008 income fell 40%. In 2009 it was 50% higher than 2007. Layoffs are less likely when wages are flexible.
- borism 16y agoThis is not unique to finance!