Yea the data support retirees being a stronger factor as discussed here: https://news.ycombinator.com/item?id=34554546 https://news.ycombinator.com/item?id=3455

Yea the data support retirees being a stronger factor as discussed here: https://news.ycombinator.com/item?id=34554546 https://news.ycombinator.com/item?id=34554546 But raising pay does still increase the number of people willing to work across the market. It’s also basically the only direct way to increase the labor pool without exogenous or distant factors to the labor market. Raising interest rates would affect the labor market by diminishing financing to the point demand for labor falls. It’s a blunt/economy wide instrument. Labor did enjoy increased market demand and increased wages after the 1918 pandemic. Historically, not wanting to raise wages just reads as sour grapes.