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I've been wondering whether low wage increases reflect the legacy of the financial crisis: companies reluctant to increase w in case there's another Great Recession. This report supports that case 1/ https://www.bloomberg.com/news/articles/2018-01-03/bonus-or-no-don-t-get-your-hopes-up-for-a-raise …pic.twitter.com/y9lRAde070
Also very much in line with Truman Bewley's classic analysis, with the extra kicker that fear of future recessions weighs on current wages 2/ http://www.hup.harvard.edu/catalog.php?isbn=9780674009431&content=reviews …pic.twitter.com/a7YTIRlIII
That's too complex. The top folks don't think the rest of us earn our wages, especially those they never interact with. Why else were unions formed? Not because of owners and managers paying employees for what they do.
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Real median hourly wage increases aren't significantly lower than implied by the tightness of the labor market; they're in line with historical experience. The next year will be interesting.pic.twitter.com/QOT0uuXm5W
To go with Ian's tight labor market thesis next year as we are still producing twice the jobs needed for population growth. We do have a demographic twist to the data since we have a larger older workforce in this centurypic.twitter.com/dQKqTfp3aM
Education is going in the dumps. It’s getting impossible to find *really* skilled labor, especially outside of cities. Plenty of crummy jobs to fill, but no labor pool to fill the good jobs. Brace yourself for something awful.
Disagree, we are more educated now than anytime in modern day historypic.twitter.com/2bYqt1wfyo
My dude, no thought to Trump’s teetering towards nuclear war? What will the effect of that be on the economy?
bitcoin will hit £5bn per coin
Doubt it. Companies eager to risk other fixed costs, like executive pay and mergers. Just excuse for keeping wages low. Academic economists suckers for this con.
Exactly the problem! Bonuses are nice but can only be counted on the time they are received not as part of a formula to determine how much you can afford. People it’s not your salary or hourly wage!
It's the lack of union power. Why would employers pay more wages when their is an abundance of labour desperate to work?
Duh. This has only been obvious to every professional for the last 40 years. ANYTHING in tax-advantaged benefits, but the barest minimum in on-the-employment-history wages. And for exactly that reason: you just stop giving the benefits if you're squeezed.
One would think labor shortages would have changed this by now. My hunch is a lot of baby boomers are exiting the circus and it's a little too soon for their kids to be getting big career advances with pay. Plus all the big company consolidations eliminate white collar positions.
It's a way to manage risk, sure. Also, I would say the lack of infrastructure and education investment, combined with tighter immigration restrictions, leads to more foreign investment in human capital.
Possibly not to a voodoo artist, but any thinking person could understand the link between increasing wage disparity and DEMS immigration policy that favors unskilled, uneducated folks, ... [presumably expecting their votes, to boot].
Krugman... the jobs for life... inflation is good fool that fell for the Keynesian lie.
Any thinking person could understand the link between increasing wage disparity and DEMS immigration policy that favors unskilled, uneducated folks [presumably expecting their votes, to boot].
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