S1E1 - Leah Brooks: Infrastructure Costs
Densely Speaking
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Is There a Heterogeneity in the Cost of Work?
When you say wages, do you mean that like hourly wages that they get paid or the cost of labor, including things like benefits? This one thing we know that over this time period, things like health care and pension increased as a share of overall compensation. So I agree with you. This is not what I did not expect to find such a nothing result there. But if labor expenditures are going up, it's probably because of labor's price times quantity is probably because the number of people and not the wages you're paying.
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