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I'm surprised that two other outcomes are not posited by this article: 1) Rise in inflation (this is ultimately going to hit the price of goods and services)
by outside1234 11y ago
I'm surprised that two other outcomes are not posited by this article:
1) Rise in inflation (this is ultimately going to hit the price of goods and services)
2) Rise in cash under the table employment. People already can't afford union work - this seems to push even more people to "hire the guy standing at the corner outside Home Depot".
- nasmorn 11y agoBoth of these might happen but are somewhat independent of the question how many jobs will be lost. If jobs are not lost but under the table employment increases that would realistically be an even bigger win. If lots of jobs are lost the reason might be one of the things mentioned by you but I cannot see local wage increases drive inflation on its own, with a federal increase it seems more realistic
- crdoconnor 11y agoProfits tend to get hit first and hit hardest. Inflation follows for businesses with particularly thin profit margins, but the effect is usually muted.