> overall labor costs aren’t growing nearly as quickly as they did in the years before the 2008 financial crisis, even though Europe is enjoying a surprising re

> overall labor costs aren’t growing nearly as quickly as they did in the years before the 2008 financial crisis, even though Europe is enjoying a surprising revival. What if access to cheap debit has allowed people to survive in jobs that don't pay enough, preventing their exit from the workforce (dwindling supply) from pushing the price of labour up?