That graph is interesting. Wonder what exactly caused the sudden labor cost increase in 2020. I can imagine it either being the “great resignation” or some other pandemic effect, but it would be great if someone with more insight could say something.
Long period of underemployment and gradual employment gains following the credit fueled recession in 2009, is possibly one factor. In other words, the slack finally came out.
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That graph is interesting. Wonder what exactly caused the sudden labor cost increase in 2020. I can imagine it either being the “great resignation” or some other pandemic effect, but it would be great if someone with more insight could say something.
Long period of underemployment and gradual employment gains following the credit fueled recession in 2009, is possibly one factor. In other words, the slack finally came out.