3 ms·
The claim fits with supply-demand curves. If you're missing 2 million people who would happily take low wage jobs, and there are as many of those jobs to do, t
by btilly 5y ago
The claim fits with supply-demand curves.
If you're missing 2 million people who would happily take low wage jobs, and there are as many of those jobs to do, the price paid for that work has to go up.
That said, I suspect that the great resignation has a whole lot of impact as well. Again, reduced supply causing an increased price. (The ones who walk away from bad jobs into good ones not being as impactful as the ones who took early retirement post-COVID, accelerating a worrisome demographic trend of having lots of old people and few working age people.)
- fallingfrog 5y agoJust because a claim appears plausible on casual observation doesn’t make it true. You have to do better than that. Another plausible explanation is that the boomers are aging out of the workforce, and the following generations are smaller.
- btilly 5y agoDid you read the last paragraph of my response?? Seriously, that was the entire point of what I said there. That there is another factor which I suspect is even bigger.
- sieabahlpark 5y agoThat would imply a worker shortage that would have been augmented with immigration. Do you realize in your own argument you prove the validity of the claim?