During a time when real wages have been stagnant or declining for everyone but the wealthiest of income earners for several decades, I find it disgusting to read about multimillionaire/billionaire CEOs and CFOs complaining about a tight labor market. How about, raise their friggin’ wages. Then I’ll bet their labor markets will open up really fast. Cut their own damned bonuses and reduce the massive profits that have flowed to capital over those same decades, if you don’t want wage inflation to lead to more generalized CPI inflation. Otherwise wage inflation on balance today is a good thing for the overall economy. I’d argue it’s even a desperately needed thing.
During a time when real wages have been stagnant or declining for everyone but the wealthiest of income earners for several decades, I find it disgusting to read about multimillionaire/billionaire CEOs and CFOs complaining about a tight labor market. How about, raise their friggin’ wages. Then I’ll bet their labor markets will open up really fast. Cut their own damned bonuses and reduce the massive profits that have flowed to capital over those same decades, if you don’t want wage inflation to lead to more generalized CPI inflation. Otherwise wage inflation on balance today is a good thing for the overall economy. I’d argue it’s even a desperately needed thing.