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It isn’t only about the wages (a lot of it is wages), another huge factor is productivity. With technology and automation, the same number of people can do so much more than they could in the 70’s. Employers are getting far more output from the same number of staff than they ever used to.
It isn’t only about the wages (a lot of it is wages), another huge factor is productivity. With technology and automation, the same number of people can do so much more than they could in the 70’s. Employers are getting far more output from the same number of staff than they ever used to.