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The story that's being told (I won't comment on whether I think it's true) is that UI benefits are too high, that means workers aren't taking low-wage jobs, and
by bachmeier 5y ago
The story that's being told (I won't comment on whether I think it's true) is that UI benefits are too high, that means workers aren't taking low-wage jobs, and firms are raising prices due to rising labor costs. That type of inflation is good for those at the bottom end of the income distribution.
- handrous 5y agoThe cynical side of me thinks this is just wages catching up with asset (especially housing) inflation over the last— well, hell, housing prices never dropped to where they "should" be even after '08, did they, so, two decades—but that higher wages will nonetheless end up being blamed for all of the current and upcoming increase in CPI.
- imtringued 5y agoOnce you reach full employment interest rates will go up as the economy has to shed less productive jobs in favor of more productive jobs. This could lead to a housing crash precisely because wages are going up.
- sagarm 5y agoSorry, I didn't follow. Why would housing crash because wages go up?