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Alternatively, perhaps this is the source of wage stagnation. We doubled the labor pool but did not necessarily double consumption.
by fromthestart 8y ago
Alternatively, perhaps this is the source of wage stagnation. We doubled the labor pool but did not necessarily double consumption.
- Cthulhu_ 8y agoThat's because costs have gone up while wages have stayed the same; people need a double income now, while 30-40 years ago my parents could afford to own a house on a single income. Me, I was only able to buy one on a single income a year and a half or so ago, at an age where my dad had two kids with the third on its way with seven years less education and no degree. Mind you, different / cheaper area of the country, too.
- fromthestart 8y ago>That's because costs have gone up while wages have stayed the same I think you misunderstand. Wages may have stayed the same because there are twice as many people competing for jobs, compared to times when women were socially discouraged from working. Labor gets cheaper, i.e. people are paid less, when there are more people competing for jobs. Supply and demand just like any other market.