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"People will lose their jobs!" This has been said about every increase in worker benefits ever. Luckily things still work out.
by jahaja 6y ago
"People will lose their jobs!"
This has been said about every increase in worker benefits ever. Luckily things still work out.
- ggreer 6y agoUS labor force participation rate is at all time lows: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab...
- chickenpotpie 6y agoThat has nothing to do with worker benefits and is completely caused by the pandemic.
- ggreer 6y agoThat graph is over the past 20 years. Even during post-2008 recovery, labor force participation rates decreased. Of course the pandemic is going to cause a spike, but the general trend is undeniable.[1] 1. https://fred.stlouisfed.org/series/LNU01300001 https://fred.stlouisfed.org/series/LNU01300001
- jahaja 6y agoWhat's your point? We already know that high labour costs (as in a liveable wage even for so called simple jobs) doesn't necessarily cause high unemployment. Northern-European countries have proven it for ~70 years.
- ggreer 6y agoI'm sorry, but you're incorrect on two matters of fact. First: the EU's labor force participation rate is significantly lower than the US's (58.3% in 2019 vs 63.4%). If the US had the EU's LFPR, we'd have 13 million fewer jobs. Second: Denmark, Austria, Finland, and Sweden all lack minimum wage laws. They have other programs that benefit poor people regardless of whether they have a job or not.
- jahaja 6y agoWhat are you even talking about? 1. I didn't write EU, I wrote Northern-European countries. 2. While true, it isn't a fact supporting your point. The main reasons for the lack of minimum wage laws are because of high degree of unionisation and the widespread use of collective bargaining agreements.