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/224/ Three Articles: Labour Revolts? (Patreon)

Published:
2021-11-09 07:00:02
Imported:
2026-06
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On rising wages after the pandemic.Workers are quitting their jobs and not going back. Restricted supply is seeing wages go up. Does this signal a new militancy, or are workers just deciding to make do with less? How has the pandemic shaped people's outlooks?

Articles (pdf attached on patreon):

Wages are surging across the rich world, The Economist

The Revolt of the American Worker, Paul Krugman, NYT

US Workers Are in a Militant Mood, Alex N. Press, Jacobin

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Bungacast will be live in New York on 19 November. Come see Alex Hochuli in conversation with Adam Tooze & Amber A'Lee Frost. Tickets at Eventbrite

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Comments

Gabo Goff

“Domino’s Pizza discussed how the "rm might o#set wage rises (pricier Margheritas might be on the way).” Clearly economist has never ordered from dominos

Gabo Goff

Also rising wages could increase productivity as a second order effect as places invest in technology to save in labor costs

Gabo Goff

You see this with QR code ordering and billing in restaurants.

Davka Smolah Collective

Didn't the pandemic encourage a lot of late-career Boomers to take retirement? If that was unexpected, and jobs hadn't filled in their younger (even "younger" like 40-50-something Gen Xer) cohorts, then seniors suddenly quitting from pandemic risk could leave a lot of jobs suddenly open. More broadly, I suspect that some of what we're seeing in the aftermath of the pandemic is a "return to trend" after the 12-13 years of de facto suppression of the non-PMC and non-financial sectors of world economies following the Great Recession. Lots of firms - and unions! - just did absolutely stupid, counterproductive shit under the assumption that rates of GDP growth, wages, capex, inflation, etc would never go up ever again in all of history. They treated Great Recession conditions as a "new normal", and now that coronavirus brought back fiscal stimulus, they're unprepared.

Gary

Right lib: Alex, Center lib: George, Left lib: Phil

Rachel

Where can I find the podcast on the economist?

Rachel

Oh maybe I misheard, I thought you mentioned a podcast about the history of the economist at some point in this episode? Sorry if I'm confused.

Sosialisten_

It sure would be nice with some wage increases, but I haven't seen anything of it myself yet. And even if my union could negotiate good deal in next year's round of negotiations, I doubt it will keep up with inflation, especially not with the soaring electricity prices.