More Americans prefer not working to accepting ‘stingy wages’

More Americans prefer not working to accepting ‘stingy wages’

[Ed. – The inevitable end of hyperregulation.  It costs an employer a lot more to employ you than you actually see in your paycheck.  But the “excess value,” as it were, is going to (a) the government, or (b) recipients designated by the government, such as insurance companies and regulatory consulting firms (e.g., for “diversity,” “equality” — and that’s just the employment-related expenses.  Don’t forget all the other regulatory overhead from local, state, and federal mandates).  The employer would gladly pay YOU more; he has to spend more than he’s cutting you a check for anyway.  But the law says he can’t pay it to YOU.  A big chunk of the value you represent to him has to be siphoned off by the state.  As long as there are welfare programs, the situation keeps stabilizing — temporarily — with more and then more people deciding it’s not worth it to work.  Collectivist utopia.]

When you operate in a market, you have to keep raising your price until someone is willing to accept your bid. But for the last several years, American employers have steadfastly refused to raise wages. And now their stinginess is catching up with them. In many instances, employers simply aren’t offering sufficient incentives for people to apply for their jobs, show up to interviews, accept their offers, or show up to work. Some number of people would prefer the low level of income they have, or no income at all, to doing the work on offer at the wages listed. As Minneapolis Fed President Neel Kashkari told a group of businesspeople earlier this week, “If you’re not raising wages, then it just sounds like whining.”

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