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What this labor shortage indicates to me is that a significant number of people are willing to reduce the goods/services they consume, in exchange for having to
by ETH_start 4y ago
What this labor shortage indicates to me is that a significant number of people are willing to reduce the goods/services they consume, in exchange for having to work less. I'm not certain how COVID/lockdowns precipitated this change, but I'm fairly certain they were directly or indirectly the catalyst.
- SoftTalker 4y agoThey spent weeks on end at home, and realized it didn't suck as bad as they thought it would. You can save a lot of money by not eating out, going out, etc. and just staying home and playing a board game with the family.
- supertrope 4y agoThere was a lot of substitution of goods purchases in lieu of services.
- acchow 4y agoReduce the goods and services they consume? This would show up as a drop in real GDP
- ETH_start 4y agoYes it should show up as a drop in real GDP.