The real solution to wage growth: Jobs, not government interference

Source: New York Post
by Kevin D Williamson

“Remember all that progressive bellyaching about income inequality a few years ago? Whatever became of that? Nothing, of course. As it turns out, US income inequality has not risen in a decade. Is that thanks to minimum-wage increases and big, New Deal-style public-spending programs? No, it is thanks to the best social-welfare program known to man: a tight labor market. Outside of the recent layoffs in Silicon Valley, things have been looking pretty good for US workers as demand for labor outpaces the supply, producing higher wages, better benefits, and superior working conditions. Even with substantial economic headwinds (COVID-19, geopolitical uncertainty, inflation) the median ‘real’ (meaning inflation-adjusted) household income rose by more than $10,000 over the past decade, according to the Federal Reserve.” (01/07/23)