Raising wages has been done and it did not work.
when the recession hits things will balance out some but....
But could this coming recession, along with a large drop in GDP, correspond with a low unemployment rate or even full employment?
Right now there is a large worker shortage and a recession of course will cause a drop in demand and layoffs.
But are things so out of whack that may just cause things to become “neutral”
LOL!!! That is like saying the laws of supply and demand don't work.
If I offer $1,000/hr I will get labor. If I offer $1/hour I will not. The goal is to find the price point.