An economic system where people can only get closer to living wages now that surplus labor has left the labor force through death and retirement should expect forward looking challenges, to say the least.
We can only hope the labor supply tightens further if that’s the only way some cohorts will see quality of life improvements. Prices are approaching true costs, very similar to how insurance prices are recalibrating towards proper pricing for climate risk. There is no guarantee discounted prices persist (energy, labor, insurance, etc).
We can only hope the labor supply tightens further if that’s the only way some cohorts will see quality of life improvements. Prices are approaching true costs, very similar to how insurance prices are recalibrating towards proper pricing for climate risk. There is no guarantee discounted prices persist (energy, labor, insurance, etc).
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https://www.businessinsider.com/baby-boomer-retirement-surge...
https://www.axios.com/2023/05/08/us-labor-shortage-older-wor...
https://www.axios.com/2022/09/03/a-deep-dive-into-the-labor-...
https://www.axios.com/2023/08/27/labor-shortages-air-traffic...