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Yes, if you need people, raise prices until you can afford the people that are available. The actual industries that do need people (like tech) have done that.
by opportune 7y ago
Yes, if you need people, raise prices until you can afford the people that are available. The actual industries that do need people (like tech) have done that.
- oldjokes 7y agoRight, in theory that's what we've always been told about how it works, but that is not what is actually happening. There has been almost zero correlation between unemployment and wage pressure for 20+ years now. In all industries, yes even tech. It's just not working. Unless you're a director or exec, then your wages are skyrocketing. Everyone else is flat or declining.
- opportune 7y agoPersonally I think the issue is that there is still a lot of unemployment (see U6) that prevents classical wage inflation from happening. That, and people outside of highly skilled industries have basically no bargaining power these days + intense global competition in almost all industries
- Balgair 7y agoSemi-related: Many SV companies have been involved in illegal wage-suppression-fixing recently. https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L... > The defendants are Adobe, Apple Inc., Google, Intel, Intuit, Pixar, Lucasfilm and eBay.