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Jukkobee t1_jdyw57j wrote

Reply to comment by elementofpee in Low-wage workers have seen historically fast real wage growth in the pandemic business cycle: Policy investments translate into better opportunities for the lowest-paid workers by sillychillly

are you saying that the 15% raises are causing everything to cost 30% more? cuz that doesn’t make any sense at all

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elementofpee t1_jdywbty wrote

Labor is just one aspect of running a business. For most industries it’s the #1 cost, so yes, an increase in labor cost + other increases mentioned above = 30% increase to your goods and services.

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Quotenbanane t1_jdzm26m wrote

Wtf is that logic. Your idea of an economy is that businesses always need to raise the prices by (e+x)% if an employee get's a e% raise? Then how can anyone buy anything in 50+ years?

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