Justin Lahart

speaker

1,185 appearances 22 recordings 1 series first heard Jul 2017 last heard Dec 2024

Justin Lahart’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Rising Wages: A Risk to the Economy, Too · 27 Feb 2018 podcast

There's a lot of steps there. voice-verified

And we don't necessarily have the step where prices go up after wages go up. voice-verified

It's not necessarily so. voice-verified

So just because everybody's sort of worried about that doesn't mean it's going to happen. voice-verified

Right. voice-verified

So productivity growth has been super slow. voice-verified

And we would like to see if we see better productivity growth. voice-verified

then you can have better wage growth without inflation and without, you know, everybody's happy. voice-verified

So basically what happens is productivity is just how much people produce in an hour. voice-verified

So if people produce more in an hour, then you can pay them more and you don't lose on profits. voice-verified

You don't have to raise prices. voice-verified

Everybody's happy. voice-verified

The problem is that productivity has just been so weak and productivity growth isn't going to turn on a dime here. voice-verified

Right. voice-verified

So they probably don't want to absorb their rising labor costs. voice-verified

But just because they raise prices doesn't mean that people are going to bite on the higher prices. voice-verified

Consumers have really been conditioned to not seeing prices go up a lot because voice-verified

And so that's one reason we might not, you know, you might not get any of that price pass through. voice-verified

The other reason is that it's just it's such a competitive environment now. voice-verified

So if you're a retailer, you're if you're a traditional retailer, you're you're competing against Amazon and, you know, another company. voice-verified

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