All of that is gone, too. This past week, fast-food restaurant workers staged demonstrations in large American cities demanding “super-sized” wages. They consider $15 an hour a living wage. But they won’t get it. They have no leverage.
All of this surely has a psychological effect on workers, who see wages as a sign of respect and reward for a job well done. It’s like anything else: We see a higher price on something and we assume it’s better. We see higher wages for workers, we assume they are doing a good job and are in demand.
The economy is cyclical, and wages will eventually bounce back, but it will take more than, as the song goes, wishin’ and hopin’. Enjoy your Labor Day, and save part of your labor to work for a better tomorrow.
In summary Enjoy your Labor Day and save part of your labor to work for a better tomorrow.