To expand on this, Baby Boomers were the largest generation of people in America. They’re all retiring or dying now. There are not enough Gen Z to replace them and the number of Gen Alpha will be even smaller since birth rates fell off a cliff in 2008. Unless the US decides to reverse its anti-immigrant policies, the supply of labor will be going down for the foreseeable future, meaning labor will have much more power.
The long term demographic trend is towards labor power, ceteris paribus.
To expand on this, Baby Boomers were the largest generation of people in America. They’re all retiring or dying now. There are not enough Gen Z to replace them and the number of Gen Alpha will be even smaller since birth rates fell off a cliff in 2008. Unless the US decides to reverse its anti-immigrant policies, the supply of labor will be going down for the foreseeable future, meaning labor will have much more power.
Can you tell the employers that? They don’t seem to be getting the memo from all of the strikes.
They will fight while they still can. But will eventually lose the war.
Which is why you’re already seeing a push for AI.
Australia would be reducing in population were it not for immigration, and we’re nowhere near as low as Japan