Paul Krugman

@paulkrugman ↗

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Last Checked Aug. 6, 2022

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Fri Jul 08 20:15:52 +0000 2022

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Paul Krugman @paulkrugman

A corresponding concept for wages would focus on workers who are hired with relatively long contracts, with wages set with an eye on the future rather than current supply and demand. And managers are *more* likely to fit that concept than lower-wage, high turnover workers 6/ — PolitiTweet.org

Posted July 8, 2022

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Paul Krugman @paulkrugman

More broadly, should we be paying more attention to nonsupervisory wages than managers' wages? I'd argue the reverse. Think of why we have the concept of core inflation: we want less volatile prices, which are more likely to reflect expected future inflation 5/ — PolitiTweet.org

Posted July 8, 2022

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Paul Krugman @paulkrugman

In other words, underlying wage growth may be somewhat less than the headline numbers. No idea how big a deal this is, but certainly no reason to focus on the nonsupervisory number 7/ — PolitiTweet.org

Posted July 8, 2022