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re: I'm all for more U.S. jobs, but things will cost more.
Posted on 1/25/17 at 3:42 pm to Texas Weazel
Posted on 1/25/17 at 3:42 pm to Texas Weazel
quote:
The flaw in that is that it likely won't go into paying higher wages. Maybe it creates more room for investment and it creates a few more jobs. Or maybe they just pocket the savings.
The only way to drive higher wages is to have a full employment economy. Trump gets this. No CEO is going to arbitrarily give everyone 25% raises, why would they with 10% unemployment? The more American labor is needed the more those who are willing to work hard will make.
2
Posted on 1/25/17 at 3:47 pm to WorkinDawg
Correct. Best time to hire is in a soft labor market and a down economy. That's when I add sales staff. Hopefully by the time the labor market hardens, and the economy picks up, their income level is at a point where that doesn't impact turnover. He doesn't articulate it very well, but he does understand the closer we are to full employment, the higher wages will be. When we get close to that point, and we've been there before, is that some are just not employable, or don't want to work. And predictably, worker's compensation and health insurance experience deteriorates.
Posted on 1/25/17 at 3:48 pm to WorkinDawg
quote:But we've had record unfilled job openings anyways. So I suspect that many that don't have a job, either don't need one (e.g., spouse makes enough money), are unable to work (e.g., severe physical and mental disabilities), are unable to navigate the labor force (that won't magically go away then), or are not THAT motivated to work.
The only way to drive higher wages is to have a full employment economy. Trump gets this. No CEO is going to arbitrarily give everyone 25% raises, why would they with 10% unemployment? The more American labor is needed the more those who are willing to work hard will make.
In other words, we may be pretty close to full employment for practical purposes if there are so many job opening available.
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