He says there is no labor shortage b/c all companies need to do to get workers is raise wages. But then he says that companies are raising wages and concludes by giving several reasons why "shortages" are happening anyway nytimes.com/2021/05/20/bri…
In the technical sense, of course, the fact that McDonalds can't find workers at whatever wage isn't a "shortage." But the idea that it'll ever make financial sense for McDonalds to pay $25/hour to take burger orders is absurd.
So... Americans have dropped out of the labor force. Small businesses can't afford to raise wages, and the government is paying people not to work, so even raising wages isn't enough to pull them back in. I'm just confused by his piece. 
Oh so companies have raised wages, yet we still have a record number of job openings (which he doesn't actually mention).
This explanation is just confused. It's not about whether they can "afford" wages and "stay afloat." It's about whether it's still profitable to hire *that specific worker* for that job at that wage. Faster service is just not worth a $25/hour wage for fast food.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
