Just when the Magician figures out how to increase revenues to pay higher wages, the politicians will make it disappear in a puff of smoke, mirrors, and new taxes.
More like the distorting of the free market by government. Oh well, unemployment comp. won’t last forever, will it? Maybe that’s the plan; Keep unemployment comp high, so employers will have to hire at a higher wage, to have workers at all. That would make this an end run around the trouble they’re having raising the minimum wage to $15 directly.
Even better, a good portion of the people who were unemployed didn’t just sit around. They used the previously unavailable free time to seek and/or retrain for better employment, and to choose from multiple options rather than accept the first offer out of pure necessity. This will also benefit the remaining minimum-wage laborers, who are now significantly outnumbered by the jobs they vacated. Even if all of them came back to work tomorrow, there would still be a shortage. So for supply and demand to regain equilibrium, wage increases are virtually inevitable.
B UTTONS over 3 years ago
Just when the Magician figures out how to increase revenues to pay higher wages, the politicians will make it disappear in a puff of smoke, mirrors, and new taxes.
Bradley Walker over 3 years ago
Just wait until his state’s governor cuts unemployment.
Funny how employers can’t bear what the market will.
Ray Helvy Premium Member over 3 years ago
More like the distorting of the free market by government. Oh well, unemployment comp. won’t last forever, will it? Maybe that’s the plan; Keep unemployment comp high, so employers will have to hire at a higher wage, to have workers at all. That would make this an end run around the trouble they’re having raising the minimum wage to $15 directly.
Seeker149 Premium Member over 3 years ago
Even better, a good portion of the people who were unemployed didn’t just sit around. They used the previously unavailable free time to seek and/or retrain for better employment, and to choose from multiple options rather than accept the first offer out of pure necessity. This will also benefit the remaining minimum-wage laborers, who are now significantly outnumbered by the jobs they vacated. Even if all of them came back to work tomorrow, there would still be a shortage. So for supply and demand to regain equilibrium, wage increases are virtually inevitable.