3min chapter

Ones and Tooze cover image

Why Low Unemployment Isn’t Better News

Ones and Tooze

CHAPTER

Is There a Greater Increase in Wages?

A one per centage point fall in unemployment has a hugely disproportionate positive impact, both on the employment and the wages paid to black workers. A tighter labor market certainly does lead to upward pressure on wages. In fact, if you break it down, as the em economic policy institute has done, no more than eight % of the over all increase in prices is attributable to wage pressure.

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