How is it that inflation can affect everything EXCEPT wages?
In: 143
The things needed to produce the products cost more and the things needed to provide services cost more. Why would a business boost wages when the things to make the product costs more and is hurting their profit. Raising wages reduces profits too which business owners don’t want.
However when there are less jobs available and people begin jumping ship to another company that’s paying more to attract higher quality candidates, they have to raise their pay and benefits in order to attract more workers so they don’t have staff shortages.
I hope that was simple enough. If you have more questions feel free to ask
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