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>The fuller employment, the less need employers have to compete for workers on wages. I think you have that backwards.
by tonyedgecombe 3y ago
>The fuller employment, the less need employers have to compete for workers on wages.
I think you have that backwards.
- MuffinFlavored 3y ago5% unemployment, lots of job openings, employers desperate to hire, more inclined/forced to pay higher wages 3% unemployment, more people taking up the fixed amount of job openings, less job openings, employers less desperate to hire Am I missing something?
- tonyedgecombe 3y ago>Am I missing something? I think so. Your causality is wrong. Strong economy -> More demand for employees -> Low unemployment Weak economy -> Less demand for employees -> Higher unemployment
- MuffinFlavored 3y agoThanks for taking the time to explain. I checked with ChatGPT and it said I am wrong as well. Maybe I am thinking in the wrong terms? What would you define what we had in COVID? High demand for employees... was that because of low or high unemployment in your mind?