My newsletter back in 1980 PREDICTED a deflation in US labor costs (private sector not gov’t employment) because of globalization global socialism. Moving good jobs to poorer nations.
So…..Even if we had 100% employed, with an average 25% DISCOUNT on wage costs, the under paid people will treat the US economy as if it had a 25% UNEMPLOYMENT rate effect…
SHADOWSTATS should KNOW this. Are they asleep?