I get unemployment being high for office-based jobs right now, companies think they can slap AI onto everything and get rid of employees, but what’s the reason for min wage jobs? Are they suddenly overflowing with applicants?
I’m biased and it worries me that the above is also what I’d like to believe, rather it being than a permanent tightening of the screws on SWEs. We could test the hypothesis to see if the same trends happened in other countries (like Canada) who didn’t change their tax policies.
Tbh with the federal deficit at 6-7% of GDP I think it'll be somewhat hard to produce a recession. Eventually companies will figure out the shoe isn't going to drop and start hiring again.