In addition to joblessness, of course, by the working of…
“In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Higher unemployment depresses wages, leading to a drop in real wages despite supply and demand dynamics.
In simple terms: Unemployment lowers wages.
Key Takeaway
Address wage stagnation.
Themes
economics
labor market
wage dynamics
Mood
concerned
analytical
Type
economic
policy
When to use this quote
- policy analysis
- business planning
- personal finance
Key Concepts
supply and demand
real wages
Questions to Reflect On
- How can policy mitigate wage drops?
- What role does productivity play?
A Different Perspective
Wage trends also depend on productivity and inflation.