quote:Originally posted by The Propagandist:quote:Originally posted by Kenny Powers:
Or, we could just let the market determine what the value of labor is and be done with it.
What happens when a grocery store has too many bananas? The price goes down!
What happens when a job market has too many unemployed workers looking for jobs? The price goes down!
And not just for those looking for work -- it affects employed workers, too. One day your boss comes and says "You know, there are 1000 people out there that would love to have your job for $2 per hour less than I'm paying you. So I'm cutting your pay $1.95 per hour. Your experience on the job is worth at least a nickel to me."
So, what do you do? Without a union contract, you suck it up and deal with it. Or, you can quit and look for something better, joining the millions of unemployed looking for that one job paying less than you make now.
That's how the market works out for you.
Well, the first priority of any business is to be profitable. Without profits there is no business. My comp went down during 08 & 09 because of the bad economy. We also laid off a bunch of people.
During economic expansions it works the other way as well. It's why you found job postings back in 04 & 05 offering burger flippers $10 an hour in Florence.