Joanna
Doug Henwood wrote:
> Autoplectic wrote:
>
>> Slowing the pace of job creation is not the same as increasing the
>> level of unemployment...............
>
>
> Sure it is, as long as the population is increasing. The thinking
> behind this is that the labor market has become too taut - i.e.,
> there's not enough slack, i.e., unemployment is too low - which is
> pushing up wages. One problem with this theory is that it's not direct
> pay that's pushing up unit labor costs (which are rising, and ULC lead
> inflation pretty reliably), but the cost of fringe benefits, meaning
> health insurance.
>
> It's a little odd to see this coming from Goldman, which is usually
> more "liberal" than other Wall Street houses.
>
> Doug
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
>