What I find is missed by "Disney is a business"

[CBMom01]

Amazon hired 500,000 employees last year.

And?

 

[Jonfw2]

And?

So why doesn’t this apply to Amazon?

And your articles are from 2-4 months ago. Before the inflated unemployment benefits expired.

 

[CBMom01]

So why doesn’t this apply to Amazon?

And your articles are from 2-4 months ago. Before the inflated unemployment benefits expired.

Amazon has a labor shortage so bad they are offering college tuition as a benefit to lure people.

 

[CBMom01]

https://www.nytimes.com/2021/10/12/business/economy/workers-quitting-august.html

 

[Jonfw2]

Amazon has a labor shortage so bad they are offering college tuition as a benefit to lure people.

People have a little savings from quarantine- less spending, combined with multiple stimulus checks, combined with higher unemployment benefits.

All that will run out and they’ll go back to work.

 

[CBMom01]

People have a little savings from quarantine- less spending, combined with multiple stimulus checks, combined with higher unemployment benefits.

All that will run out and they’ll go back to work.

That’s certainly not the consensus among business leaders and those studying the labor market

 

[Jonfw2]

That’s certainly not the consensus among business leaders and those studying the labor market

What is the consensus then? In your own words?

 

[CBMom01]

What is the consensus then? In your own words?

What is the consensus then? In your own words?

People are quitting low wage and/or high stress jobs, particularly service industry jobs and living on less and/or changing careers

 

[Jonfw2]

People are quitting low wage and/or high stress jobs, particularly service industry jobs and living on less and/or changing careers

But you need money to live, right? And when the money runs out, what do you do?

 

[CBMom01]

But you need money to live, right? And when the money runs out, what do you do?

People are living with less and/or changing careers

 

[Jonfw2]

People are living with less and/or changing careers

The premise is we’re talking about low paying jobs. What does “living with less” mean here other than “living off savings”?

 

[CBMom01]

Abd

The premise is we’re talking about low paying jobs. What does “living with less” mean here other than “living off savings”?

And/or changing careers

 

[Jonfw2]

Abd

And/or changing careers

Please address the first part first. I’ll get to the second part.

 

[CBMom01]

Please address the first part first. I’ll get to the second part.

Writing it up now but it’s a longer post. Don’t go anywhere.

 

[Jonfw2]

Writing it up now but it’s a longer post. Don’t go anywhere.

Really would have been more dignified to say “you know what? I can’t respond to that”.

 

[Aluminum Falcon]

People have a little savings from quarantine- less spending, combined with multiple stimulus checks, combined with higher unemployment benefits.

All that will run out and they’ll go back to work.

I agree with you, it’s an awful round robin if it plays out otherwise. Put it this way, people demand higher wages to work, businesses increase wages, and increase price of their products to compensate for wage increase, cost of living goes up, people demand more money, bc of the cost of living price, companies raise wages….. do you see where I’m going haha. Inflation never stops going up in that scenario, So you make more, but can afford either the same, or less in this scenario. Aka no bueno

 

[Jonfw2]

I agree with you, it’s an awful round robin if it plays out otherwise. Put it this way, people demand higher wages to work, businesses increase wages, and increase price of their products to compensate for wage increase, cost of living goes up, people demand more money, bc of the cost of living price, companies raise wages….. do you see where I’m going haha. Inflation never stops going up in that scenario, So you make more, but can afford either the same, or less in this scenario. Aka no bueno

100% correct. In fact, we are seeing it already.

 

[Aluminum Falcon]

100% correct. In fact, we are seeing it already.

Happened back in the 70’s, it was a mess back then, and it would be a mess now. I don’t think ppl understand that there have to be entry level wages to make the economy work, unless you want to be a socialist society (and every “true” socialist society has failed to this point)

 

[Jonfw2]

Happened back in the 70’s, it was a mess back then, and it would be a mess now. I don’t think ppl understand that there have to be entry level wages to make the economy work, unless you want to be a socialist society (and every “true” socialist society has failed to this point)

If $100 per hour were minimum wage, that would adjust to the lowest wage. Everyone up the chain would make more. And prices would skyrocket to the point that your $100 per hour wouldn’t purchase any more goods.

 

[Aluminum Falcon]

If $100 per hour were minimum wage, that would adjust to the lowest wage. Everyone up the chain would make more. And prices would skyrocket to the point that your $100 per hour wouldn’t purchase any more goods.

Correct, it’s why people could live back in the 50’s on $1 an hour. Wages go up overtime, but that doesn’t mean you can afford more, it’s the most common error I see a lot of people make