4 ms·
That's a terrible TL;DR. The article is about wage growth first and foremost not economic growth. The article actually does a pretty decent overview of the many
by rayuela 9y ago
That's a terrible TL;DR. The article is about wage growth first and foremost not economic growth. The article actually does a pretty decent overview of the many factors affecting wage growth, from the macro factors (cross border labor competition, automation) and micro factors (weaker unions, more unequal distribution of profits within firms).
- randomdata 9y ago> weaker unions In Canada, where we have experienced wage stagnation that mirrors the US quite closely, our unions started to get stronger after that stagnation began. The peak union years in Canada were in the 80s and 90s, more than a decade after the incomes stopped growing. While unionization has declined slightly since that time, unionization remains quite strong, and Canada is named the 6th strongest union country in the world. Despite that, wages have remained stagnant regardless. It seems this one is completely beyond what unions can achieve.