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Economic analysis has shown the low skill labor market has monopsony power. https://journals.sagepub.com/doi/abs/10.1177/10353046211042427?journalCode=elra http
by colinmhayes 5y ago
Economic analysis has shown the low skill labor market has monopsony power. https://journals.sagepub.com/doi/abs/10.1177/10353046211042427?journalCode=elra https://journals.sagepub.com/doi/abs/10.1177/103530462110424...
This means the workers at applebees don't have much leverage to demand higher wages. Their options are accept a shitty job or don't work. This manager believes higher gas prices will force them to shift towards the "accept a shitty job" part of the spectrum.