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No labor shortage. It's a wage shortage. I'm certain if the pay went up, there would be applicants.
by edoceo 5y ago
No labor shortage. It's a wage shortage. I'm certain if the pay went up, there would be applicants.
- fredstarr 5y agoYou nailed it 100%!!! There's no other way to put it :)
- gruez 5y ago"No housing shortage. It's a rent shortage. I'm certain if the rent went up, there would be more rentals. " No, the point isn't that the housing shortage isn't real, it's that whether it's a labor shortage or a wage shortage is in the eye of the beholder.
- edoceo 5y agoThat's backwards.
- mjburgess 5y agoHow does pay go up? You assume there's an infinite profit margin available for decreasing. Many industries operate at a few percent profit.
- Sabinus 5y agoIncrease costs. Everyone should be able to afford labor-heavy industries costs going up since consumers have so much excess capital from cheap Chinese goods.
- lotsofpulp 5y agoDecrease in income/wealth gap. People on the upper rungs of the ladder have to sacrifice.
- mjburgess 5y agoYou realise there are fewer of them? There's no money there either, after a division.