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The Guardian’s Larry Elliott asks the pertinent question: “what’s so wrong with labour shortages driving up low wages?”:
If labour shortages are driving up the wages of low-paid workers then what is wrong with that?
There may well have been worse decades than the 2010s to be a wage earner but you would have to go back to the 19th century to find one comparable…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.