this post was submitted on 20 Aug 2023
1038 points (81.0% liked)
Memes
44858 readers
2041 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Yes, they are panicking because people have bargaining power to get higher wages. Are you still not connecting the dots there?
I have a skill and I am not struggling like some of my other comrades are. That does not make me blind to the purpose of unemployment or to the fact that if everyone in the world had my skill set then that would mean there are a lot of important jobs that aren't getting done, a fact that, curiously, has completely escaped you.
No, they are concerned about having to pay people more, because that cuts directly into their own profits. They are not more concerned about inflation then they are about their own loss of profit from having to pay workers more, unless they require so few laborers to run their business that inflation does actually cut into their profits more.
Feds are increasing interest rates to increase unemployment. They directly stated that. You can Google it if you don't believe me.
Quite a bit has escaped you and it is endlessly entertaining to me.
Labor is the largest expense of a business wtf do you mean a wage increase "doesn't cut into profits" lmao
Businesses had an excuse to raise prices so they did, end of story. That's not complicated in the slightest.
The Fed is doing what they said they're trying to do, increase unemployment rates.
Have a good one.
Wow you're just an actual idiot.