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Did you see the part in the article where they said it’s not at all clear why this is happening and that economists don’t think that’s the explanation or at least the primary one? Assume you didn’t.

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Joke.

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This is kind of like saying that experts don’t know why there is a surge at the southern border.

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IKR

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Oh cool, a banker telling us what a fair minimum wage should be. Neat! OP, if anyone is making more money from a stimulus than working, it doesn’t mean we should take away the stimulus, it means their wages are piss poor. It’s crazy that people see bankers as monsters lacking in empathy, isn’t it? OP, don’t you have a reservation at Dorsia or some videotapes to return? I bet you think a 60% tax on the 1% is outrageous too huh?

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Wow amazing how one person can be so wrong with one post. I love how you attack bankers. I do nothing with banking. Neither does my firm. This list also has zero attacks on minimum wage. I literally said fast food paying (willingly) 15 bucks to try to hire anyone they can.

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My favorite quote “is it worth it to go to a $10/hr job without benefits?” They prob cut out the part where she says “when i can stay home and collect fat govt checks”

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Wife was on unemployment for 6 weeks and was making more than she would have been making at her job. It’s wild.

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And she made almost triple minimum wage at that job

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Cd1, while I appreciate your enthusiasm, KMPG doesn’t really have bankers. Also I do think there’s some nuance here, but we obviously do need a productive workforce and liveable wages. Presumably the stimulus incentivized a subset of people to not work, but hopefully shielded many more people from catastrophic suffering and greater long term loss of productivity. The conversation of how that needs to be adjusted should be ongoing. It’s just that we don’t seem to have credible evidence that there’s a strong link between the labor shortage and the stimulus, at least to my knowledge

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Cd1, don’t really disagree with you but don’t go after the strategy consultants!! I hear they’re late stage capitalists... 👀

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Welcome to European socialism and stagnation friends ✌🏻

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I have no issue with businesses having to compete against each other for talent. What I do have an issue with are companies being forced to compete against the government paying people not to work. What makes it worse is that business is being taxed to pay for that competition.

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But P1, you and I both know the government won’t be paying people not to work indefinitely. The people who are not taking these jobs know that too. I know you like to think of them as shortsighted idiots, but no ones turning down a job they might need long term to collect 2-3 months more of unemployment. Also, you and I both know the government is not giving them an exorbitant amount of money. Unemployment isn’t much. You wouldn’t trade places with them. If $1,000 is a life changing amount of money for people, think about what their lives are like. So if unemployment is paying them MORE than minimum wage, minimum wage isn’t high enough. This isn’t complicated. Also, and you’re forgetting this, people don’t want to get sick. They’re not just staying home to get a few hundred bucks, they’re deciding that $8 an hour is not worth their life. And-and again, I recommend reading this Reddit thread- the pandemic made it clear that a lot of these jobs did not care about their employees. They’d have them come to work even if they tested positive or someone else had. They called them “essential” but didn’t give them proper PPE. And what happened? Thousands of people lost jobs. CEOs and billionaires continued to make money last year. Trillions. The veil has fallen from their eyes. https://www.reddit.com/r/politics/comments/n7z8bu/analysis_its_not_a_labor_shortage_its_a_massive/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

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I’m sorry, I lost my sense of humor

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