Wage Deflation, Quality Sucked Out of Jobs, Tense Workplaces
It's confirmed. You're not imagining it. There really is wage deflation because of AI. The New York Times reports: " ... occupations highly exposed to A.I. have experienced a 6.7 percent decline in real wage growth since 2023." That's not only at the front end, that is when being hired into a job. While on the job, the employer can give you an either/or: Accept a cut in compensation or be gone. Reddit posts: "I'm in a really tough spot and hoping someone has advice. My company just announced a restructuring. They said my current role is being eliminated but offered me a 'new' position. The catch is it's the exact same job but with a 15% pay cut." In addition, the nature of the deflation can take even another form. That's dragging feet on what is usually lockstep increases in compenation. Law Fuel notes a halt in the traditional ritual of matching the number that market-makers in the legal sector puts out there. Few law firms, so...