Loading ...They always leave off the three most important words. Shortage of cheap labor at that price. A lot of business people I know, don’t want to hire anyone because its too expensive with taxes etc. At least half again of the salary for insurance benefits etc.
Plus, most workers I’ve met over decades, hate their jobs. They don’t get paid enough to care, if you ever noticed a lazy worker dragging his feet. Nothing much to lose. My uncle Al, no skills, drove a diaper truck, and had 5 kids, not wife working. Young couples had diaper service.
I remember we paid high for everything, but paid it to a fellow American person or business, we were all in the same boat of give and receive. Now a days, many Americans are giving to outsiders in foreign lands instead. The money went far and stayed home.
If you read between the lines, TPTB are worried about deflation. Many businesses are not profitable enough to pay more with foreign competition, and many workers don’t get paid enough to spend extra money. Some are so under paid they receive tax money. Earned income tax credit?