I would dispute this, wage inflation pressures are everywhere. They are being resisted through credit expansion (unsustainable)...
What TBS has identified is pressure on household budgets.
Pressure on wages is when employers are feeling pressure to increase pay.
That is not happening because Trade Unions are failing to do the hard work of organising outside the public sector.
They would rather increase the pressure on household budgets by hitting the easy targets in the public sector.
It a much easier life being a union organiser for nurses or teachers than for truck drivers or fast food workers.
I think one of the main reasons for lack of pressure is that employers are recruiting from a pool of hundreds of millions of workers rather than 5 million.
That is true, and while I recognise the effect on low skilled workers in high cost countries like Ireland, in terms of the bigger picture this is a great thing.
Wow... I largely agree with TheBigShort.
Is the point here that low interest rates are enabling people on low incomes to consume from loans / debt? Just asking, as the rest of your post sounds right to me.
What TBS has identified is pressure on household budgets.
Pressure on wages is when employers are feeling pressure to increase pay.
That is not happening because Trade Unions are failing to do the hard work of organising outside the public sector.
They would rather increase the pressure on household budgets by hitting the easy targets in the public sector.
Perhaps, perhaps not. I do know that the trade unions would only love if private sector worker's started joining. But for many now, trade unionism is a dirty term. Like socialism in the US - couldn't even be discussed until the economy crashed and people like Sanders began to advocate for socialismIt a much easier life being a union organiser for nurses or teachers than for truck drivers or fast food workers.
I do know that the trade unions would only love if private sector worker's started joining.
I may do the same!I'm treating myself to a pint later on foot of that comment!
Yes, it is called credit expansion. A good idea when people are saving too much and have little debt.
A bad idea when people cannot save and are already in debt.
Brilliant, absolutely the best put down of Trade Unions I have ever heard.
Trades Unions, and so many others, would only love if the world was a better place, but they are unwilling to put in the effort to build a better world. I "would only love" if customers bought my services, its a bummer to have to go out there and sell them.
Recruitment is the TU officials job, especially in the difficult sectors.
The Luas dispute illustrated all that is worst in Trade Unions.
Luas drivers are grossly overpaid because they have a huge strike power. The TUs are happy to organise there because although not public sector workers they are in a position similar to public sector workers, they have the city at their mercy if they go on strike.
The TUs are happy to get pay rises for those who have strike power or an employer who has to attract votes, and to hell with the poor commuters who have to pay for the drivers over inflated salaries, and the tax payers who subsidise the show.
Pressure on wages is when employers are feeling pressure to increase pay.
That is not happening because Trade Unions are failing to do the hard work of organising outside the public sector.
The Luas dispute illustrated all that is worst in Trade Unions.
Luas drivers are grossly overpaid because they have a huge strike power.
I think that the Luas drivers get an excellent service from their TU.
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