Higher wages means the price of what is produced goes up: inflation.
This is why central banks try to keep unemployment down to, but very definitely not below, anywhere from 2-4 percent, depending on the country.
This is pretty much an economic law of nature, so to speak.
Higher wages means the price of what is produced goes up: inflation.
This is why central banks try to keep unemployment down to, but very definitely not below, anywhere from 2-4 percent, depending on the country.
This is pretty much an economic law of nature, so to speak.