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by lumost
1890 days ago
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Presumably, a business struggling to hire has too much demand to fill with their current workforce. The econ 101 solution to this is to raise prices or hire more capacity. If hiring additional capacity is impractical raising prices would be the next step. If we're living in a world where prices are inelastic, then labor supply will also become inelastic. Presuming that successful businesses aren't trying to hire for the sake of hiring, then it's almost certain that they are raising prices to meet demand. |
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