Employers compete for labourers, so they have to raise wages to attract employers in tight labour markets. Offshoring has been going on for decades but it’s slowing down as developing countries are becoming more wealthy (ie: China)
Not to mention that the whole idea behind the Fed raising interest rates and “cooling off the economy” is to raise unemployment, lower employee bargaining power, and therefore keep wages low.
Employers compete for labourers, so they have to raise wages to attract employers in tight labour markets. Offshoring has been going on for decades but it’s slowing down as developing countries are becoming more wealthy (ie: China)
Right now the UAW is going on strike for those higher wages. CEO of Ford says those wages will bankrupt them. Is he telling the truth?
Not to mention that the whole idea behind the Fed raising interest rates and “cooling off the economy” is to raise unemployment, lower employee bargaining power, and therefore keep wages low.