I don't think you're being nuanced enough. Wendy's in Montana is offering $17.50 an hour and not getting applicants. That's clearly a sign of some deep structural labor market issues.
That's a TOTALLY different story than not being able to find people at $80k my guy.
Also $17.50 is an incomplete picture. How many hours per week? Any benefits? I would bet a years salary that it is <40 and no benefits. Would you take that job?
Well, GDP is a measure of how much your country produces. Why do things get produced? Because it can be sold. Who buys things? People with money. How do people get money? By working and being paid. So pay people more, then they'll buy more, then producers can produce more, then your GDP goes up. Is it that simple? No, of course not. But it's not a crazy chain of connections.
> How do people get money? By working and being paid. So pay people more, then they'll buy more, then producers can produce more, then your GDP goes up.
That sounds more like inflation than productivity actually going up.
Also $17.50 is an incomplete picture. How many hours per week? Any benefits? I would bet a years salary that it is <40 and no benefits. Would you take that job?