Whenever there's an article about the lack of jobs or pay for the middle class, the first thing I do is hit Ctrl+F and start typing "immigration". This being the New York Times, it doesn't show up, for a variety of partisan and ownership-related reasons.
Supply and demand applies just as much to labor markets as it does to any other. The "vanishing pay raise" makes a lot more sense when you consider the deliberate increase in labor supply for the explicit purposes of lining the pockets of crooked billionaires like Mark Zuckerberg and Carlos Slim.
Supply and demand applies just as much to labor markets as it does to any other. The "vanishing pay raise" makes a lot more sense when you consider the deliberate increase in labor supply for the explicit purposes of lining the pockets of crooked billionaires like Mark Zuckerberg and Carlos Slim.