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This is what the Death of Cheap Labour Means / News of the Money-World #48

NZ Everyday Investor

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Is There a Wage Price Spirale?

I've never seen a period where we've had such low global unemployment around everywhere, right? Even in 2008, there are always pockets of the world with massive number of employees that could be filled up and put places. But because we have a global labor shortage, simply opening up the immigration settings in New Zealand, I don't think we'll change a huge amount. And so to my mind, inflation is probably here for a lot longer than we kind of think. It's going to take us a while to figure out this transition to a higher wage and a higher labor economy.

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