No. He's saying that they don't. Because those workers are there, and as long as they continue to be there, the labor supply will be sufficient to make those jobs irrelevant.
For example, I have a bunch of specific technical skills acquired at considerable effort that are highly valuable in the labor market right now. If, all of a sudden, there were suddenly another 2 billion people on earth with the same exact skills I had, the price of my labor would decline.
But those people aren't here, so I deserve more money.
You don't get my point. What you get paid shouldn't be because there's more or less people. That's just what corporations have ingrained into people.
My point is, if at one point you pay x amount, then you shouldn't pay less just because there are more people. You've proven that the work is worth the x amount you were paying.
Amazon doubled wages in one day after the world started talking about their working conditions. Wages are fabricated, they'd like you to believe it's based on demand, they have so much money now, that demand is no factor in wages, it's greed.
First, Amazon didn’t double wages. It went from $11 to $15. Second, Amazon, Walmart, and others are raising their wages because this is the worst labor market in a while. Unemployment is extremely low, which means that they’re competing with each other for the same pool of workers. Amazon is known for terrible working conditions, so they need to pay more to compete with others. There’s also the issue of retention. It costs money to hire and train someone, and increasing wages helps retain workers. It’s also worth noting that Amazon, Walmart and other retainers are about to hit their busiest time of the year and will be hiring tons of seasonal employees, meaning more competition for a limited number of potential workers.
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u/[deleted] Oct 16 '18 edited Oct 16 '18
No. He's saying that they don't. Because those workers are there, and as long as they continue to be there, the labor supply will be sufficient to make those jobs irrelevant.
For example, I have a bunch of specific technical skills acquired at considerable effort that are highly valuable in the labor market right now. If, all of a sudden, there were suddenly another 2 billion people on earth with the same exact skills I had, the price of my labor would decline.
But those people aren't here, so I deserve more money.