Every job eliminated and attributed to AI resets market expectations for that function, like a house selling at a loss that resets comps for the whole street. The workers who remain negotiate against a smaller market with fewer openings, and their bargaining power drops whether or not AI is actually doing the work.

https://readuncut.com/the-ai-bet-corporate-america-actually-made-it-wasnt-productivity/

#WageSuppression #LaborEconomics #AIImpact #Negotiation #MarketDynamics

AI Layoffs and Wage Compression: The Bet Corporate America Made

AI gave corporate America a way to gut headcount and get applauded for it. An NBER study found only 2% of execs attributed cuts to actual AI, but 60% cut in anticipation of efficiencies that haven't arrived. The bet was never productivity. It was permanent wage compression with better PR.

Read Uncut
US Sheep Herders Sue Employers for Cartel-Like Wage Suppression

Sheep herders in the U.S. West have banded together to sue their employers, accusing them of operating an illegal cartel that artificially suppresses

Claims Journal

In order to sell his book, a certain neo-liberal, #corporatist ex-PM of #Australia is 'doing the rounds' in the media.

Far from respecting #Australians, and our land's #ecologicalLimits. He, with the help of his #propertyDeveloper-shill wife, were a veritable open-borders disaster!

He continued to #pervertImmigration to help his wealthy mates in big #retail and #construction. He aided and abetted #wageSuppression and #labourAbuses. Far from...(1/3)

@TradChic_Aryan
Mass #immigration is an important issue itself, with implications on housing, infrastructure, extreme #consumption, #wageSuppression - even (debt) #slavery.

Having said that, it is a seperate problem. For example, what about gay people or adulterers actually living in a backward country.

It is important that the #Fediverse works over #Tor. Currently it looks like a new #dataMining project by #Cloudflare...

And who knows how they've silently bought the #clearnet.

@0 @fedilab

A geniune left will always question irresponsible #immigration levels because they know it causes #wageSuppression and only serves the top 1%.

That's why you will always see the #BusinessRoundtable (The [Seedy] #BusinessCouncil and #PropertyCouncil in #Australia) relentlessly resisting sensible #immigration levels and releasing constant #propaganda daily in #Murdoch rags.

They don't do it to be warm and fuzzy - its about #workerExploitation, #moreCustomers, #higherRents and #speculativeGains.