4 ms·
> The salaries, following the supply/demand ratio, should be up. And they are not. Supply and demand says that offers will go up. And they have. After all, if
by randomdata 8y ago
> The salaries, following the supply/demand ratio, should be up. And they are not.
Supply and demand says that offers will go up. And they have. After all, if you are unemployed, employers see your value as being less than the amount you are willing to work for (which can be no lower than minimum wage). If they could hire you for $0, or a negative amount, they most certainly would. There is always some price point where it is worthwhile.
Those rising offers is what has allowed those previously unemployed to find jobs with agreeable compensation and join the employed where previously offers were not high enough to reach an agreement (by choice or due to the law).
> Since they're not, the law of supply/demand dictating 'prices' does not work for worker's compensation.
The law of supply and demand is being observed exactly as expected here.