Labor Inelasticity

Published on July 10, 2023 by Premium

Even as demand for labor continues to increase with economic growth, the supply of labor in the U.S. is stagnate absent ever larger wages increases. The working age population of the U.S. plateaued a few years ago, so increases in labor supply have largely come from attracting those outside the work force using high wages. At the same time, demand for labor appears to persist with steady economic growth and a growing population of retirees. […]

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