To: BikerNYC
I think I read somewhere that economists claim that we need a permanent pool of unemployed workers of roughly 5% to help keep labor costs in check. Why do you think they say that? When unemployment went lower than that a few years ago without inflation, they couldn't explain it.
Unemployment and how much people are paid should be determined by the market.
99 posted on
07/20/2005 4:19:52 PM PDT by
Moonman62
(Federal creed: If it moves tax it. If it keeps moving regulate it. If it stops moving subsidize it)
To: Moonman62
Unemployment and how much people are paid should be determined by the market.
I agree, but when you have an oversupply of labor, labor is cheap.
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