Businesses may have to raise wages to attract workers. Right now, we have a surplus of labor. Wages would be going up, rather than stagnating or going down if we had a labor shortage.
Civilian labor force participation rate 1978-2017
Businesses may have to raise wages to attract workers. Right now, we have a surplus of labor. Wages would be going up, rather than stagnating or going down if we had a labor shortage.
Civilian labor force participation rate 1978-2017
Probably need to hire only half as many Americans to get the job done. At double the wage.