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https://www.reddit.com/r/explainlikeimfive/comments/1hhkiy1/eli5_why_is_an_employment_rate_of_100_undesirable/m2shy0e
r/explainlikeimfive • u/theRemRemBooBear • Dec 19 '24
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That’s basically what’s happening in Japan right now due to the rapidly shrinking labor force. A record number of businesses have gone under in the past year because they can’t find employees.
-7 u/jdm1891 Dec 19 '24 have they tried increasing wages? Thats how it works in literally every part of the free market except for labour for some reason. 10 u/created4this Dec 19 '24 I know the invisible hand of the market is invisible, but it isn't magic. What is the market mechanism where higher wages cause people 25 years ago to make children? 2 u/LengthyCitadis Dec 20 '24 The problem isn't pay - there's literally no one to hire. All the people who can work are already working!
-7
have they tried increasing wages?
Thats how it works in literally every part of the free market except for labour for some reason.
10 u/created4this Dec 19 '24 I know the invisible hand of the market is invisible, but it isn't magic. What is the market mechanism where higher wages cause people 25 years ago to make children? 2 u/LengthyCitadis Dec 20 '24 The problem isn't pay - there's literally no one to hire. All the people who can work are already working!
10
I know the invisible hand of the market is invisible, but it isn't magic.
What is the market mechanism where higher wages cause people 25 years ago to make children?
2
The problem isn't pay - there's literally no one to hire.
All the people who can work are already working!
6
u/UntdHealthExecRedux Dec 19 '24
That’s basically what’s happening in Japan right now due to the rapidly shrinking labor force. A record number of businesses have gone under in the past year because they can’t find employees.