Massively increase supply and wages go down. Reduce supply and wages go up.
Massively increase supply and wages go down. Reduce supply and wages go up.
Mining and ship building were often seen as a hard jobs, but they paid well, so never struggled for labour.
Mining and ship building were often seen as a hard jobs, but they paid well, so never struggled for labour.
But the job market is a market like any other and government policy was to inject a fresh cohort into the job market every year with obvious results
blog.ukdataservice.ac.uk/earnings-tra...
But the job market is a market like any other and government policy was to inject a fresh cohort into the job market every year with obvious results
blog.ukdataservice.ac.uk/earnings-tra...
If fact, looking at that graph, we can see that Brexit barely had any impact in the medium-term trend.
If fact, looking at that graph, we can see that Brexit barely had any impact in the medium-term trend.
nation.cymru/news/industr...
nation.cymru/news/industr...
In my view, it is the primary reason for the past two decades of wage stagnation.
In my view, it is the primary reason for the past two decades of wage stagnation.