A business cannot pay wages that cause an operating loss.
When higher wages are paid prices must rise.
How much is one willing to pay for a Subway sub?
Some businesses have enough demand to post significant price increases to pay for higher wages and still be busy.
Some cannot do so.
I suspect that employers have been complaining about the scarcity and high cost of labor since the dawn of civilization.
In our current time, the government is serving as a staffing competitor.
My macro view is that I get to pay inflated prices, employers get extra heart burn and my grandkids get a huge tax bill.
|