4 ms·
Why aren't wages rising in a tight labor market?
- lifeisstillgood 4y ago>>> If upward real wage rigidity exists How many people have formal annual wage negotiations? It's rare in my experience. But imagine a law that required say two 30 minute wage and conditions negotiations one week apart every year? For every employee. Pretty much every other input has an annual contract and a negotiation period - suppliers of everything do this. And then imagine a private industry of agents (call them selves Trades Unions perhaps) that would block negotiate for people signed up. (yeah why is that not a thing?)