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by michaelscott 2879 days ago
A higher supply of cheaper labour does contribute to the reduced pay but by far the biggest influence is the stagnation of wages over those 3 decades (i.e. it's not that wages have gone down, they just largely haven't gone up).

Average, inflation adjusted wage growth has been projected as low as 0.2% year on year in some cases, and this affects most forms of work not just the low end.
2 comments
laughingman2 2879 days ago
With all the productivity gains, if the wage growth has been far less, it's clear who is to take a huge part of the blame, hint hint, big corporations who also evade paying taxes.

Its almost as if they don't want a vibrant middle class to spend, thereby dooming themselves in the long run with stagnation.

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amf12 2879 days ago
> A higher supply of cheaper labour does contribute to the reduced pay but by far the biggest influence is the stagnation of wages over those 3 decades.

This only applies to low skilled, replaceable jobs and certainly not the high skilled ones. Because eventually there is a demand for better employees (which naturally comes with experience and skills) which leads to higher wages and wage growth. Look at what's happening in SV.

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