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Both labour supply and demand have normal curves. Low-value employers will be priced out until there are 110 openings, and 10 people come out of retirement.
by michael1999 4y ago
Both labour supply and demand have normal curves. Low-value employers will be priced out until there are 110 openings, and 10 people come out of retirement.
- adam_arthur 4y agoYes either openings decline or labor supply increases. Demographic trend is toward lower labor supply though, so most likely outcome is number of job openings needs to be decreased to solve inflation. Again, real wages have been declining so people are getting poorer despite increasing nominal wages. It kind of boggles the mind seeing people talk about wages in nominal terms like it means anything. The poor and downtrodden will suffer most in the end as a result of the steps necessary to control inflation.