The ‘gig economy’ has broken a fundamental link in capitalism that was good for workers
|05/21/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON — Everyone knows capitalism is based on supply and demand. If the supply of something goes down, then the price of it rises. The concept applies to labour, too. In boom times, when there is low unemployment, wages go up as employers compete for workers and the available labour pool dwindles.
With unemployment in the UK currently at 4.6%, we ought to be living in a golden age, a once-in-a-generation opportunity for workers to make good money. Anything under 5% or 6% is below the technical range of “full employment.” New employees ought to be difficult for businesses to find. read more >>>