The most lasting legacy of #Covid may be its impact on work and #WageInflation: one in eight people say they plan 'no return' to pre-#pandemic activities, including #work. The number of hours people of all ages want to work plunged, and their attitude has also changed. #SocialMedia celebrates '#QuietQuitting' and 'acting your wage' — meaning do what you are paid for, and no more.

https://www.ft.com/content/4e5f3e36-cdab-4661-90e2-0c0d94a2100e

#EmployeeEngagement #WorkEnvironment via #FT

So yes I expect a mediocre "earnings season" from corps Q1, but I view this as not a bad thing.

Part of weakness will be due to weaker #Demand from price-gouging inflation that outstrips wage increase and this is bad.

But part of the earnings weakness will be due to #WageInflation especially among low income workers and this is unequivocally #Good

Let's be clear supply-side inflation sparked by profit gouging and supply-side snafus is bad.

Demand-side inflation induced by rising wages aka #WageInflation especially among low income workers is #Good.

And let's be perfectly clear #WageInflation is highest among low income workers which is good, and as a result low income workers are experiencing the highest increases in #real income which is also good despite what the Fed may say and what the mainstream media may parrot.

For example if "early" retirees are mainly higher income workers and Powell is mainly concerned with the #WageInflation among low income workers then the answer would be no.

"Low wage worker #WageInflation is out of control!"

Yes Mr. Fed you do indeed work for Capital.

What if #WageInflation is so high that it outstrips price inflation. Is that good or bad?

If I were a journalist covering the Fed, I would ask Powell a #simple question: "Isn't #WageInflation good?"

Somehow this basic point seems to escape the mainstream journalist who end up parroting the false and wrong statements from Fed officials like Powell that inflation is hurting low income workers.

Yes price inflation is bad, but #WageInflation is good and for low income workers #WageInflation exceeds price inflation since the start of the pandemic

"Oh but if #WageInflation is too high then the mainstream economists at the Fed will jack up interest rates to cause a recession"

Let me repeat, #WageInflation is good. I'm sorry if the mainstream economists at the Fed are acting in a totally uneducated fashion.

Put simply #WageInflation is #Good

Someone needs to explain to #Centralbanks & #economists the difference between nominal & real rises in #wages...

As Rana Foroohar points out today @FinancialTimes while there has certainly been #inflation in goods & fuel, compounding the long-tern inflation in assets, #workers wages even if rising in nominal terms have been falling in real terms related to living/housing costs... to claim #wageinflation is the problem is disingenuous at best & class-warfare at worst!