Sensible. This is a variant of Block's uncertainty argument, but I'd point out that it occurred before the higher inflation. Also I'd look at changes in cost to employers vs wages paid.
Sensible. This is a variant of Block's uncertainty argument, but I'd point out that it occurred before the higher inflation. Also I'd look at changes in cost to employers vs wages paid.
I think that wage inflation preceded general price inflation this time. I’m not certain though. I’m mainly relying on personal observation. But if I’m right, it would be an odd outcome that highly variable wage inflation makes the labor market slower to adjust to new, higher prices.
Sensible. This is a variant of Block's uncertainty argument, but I'd point out that it occurred before the higher inflation. Also I'd look at changes in cost to employers vs wages paid.
I think that wage inflation preceded general price inflation this time. I’m not certain though. I’m mainly relying on personal observation. But if I’m right, it would be an odd outcome that highly variable wage inflation makes the labor market slower to adjust to new, higher prices.