Inflation outstripped real wages for people who work for pay from others.
From Tim Bishop
We have one of the few societies, the only one I can think of right offhand, where your health care is so tied to your job, so that when an American company has to hire, they have to think about health care.
There are always, of course, job losses of a cyclical nature in a recession.
Foreign trade clearly has been a reason why inflation has been low.
Foreign trade clearly holds down the cost of products we buy.
Trade helps bring us products cheaply, but there is no guarantee whatsoever to assume that it will allow us to replace the jobs that have been lost, and there is no mechanism under productivity that says that, either.
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