Wage Hikes Mean Fewer Jobs for Workers

I just read my FT and found an article that supports my post, Factory Work Transforms Rural Economies, Wage inflation in China hits hiring, “Wage inflation in China’s financial and professional services sector has climbed to 17 per cent and pushed local employers to cut their hiring plans.” Simple economics state that either more workers are retained at a lower wage or fewer workers at a higher wage. So, what is more humane, more or fewer jobs? And we’re not even considering that there is always a point of pain past which factories close or move when they’re no longer profitable. Think Motor City closings.