Actually supply and demand usually rules Pandemic or no pandemic. E.g., : 1) if you want better workers and skilled worker supply is limited, you pay more than

Actually supply and demand usually rules Pandemic or no pandemic. E.g., : 1) if you want better workers and skilled worker supply is limited, you pay more than the other guy, so wages go up. 2) As wages go up more people are motivated to get trained in that skill. Eventually more workers available and supply of workers goes up. If demand stays the same, wages go down as employers don't have to pay as much to fill positions. 3) Less motivation to get trained in that skill so less workers. Repeat 1.