If only large numbers of workers could get together, maybe even unify, to set a price for their labor. Some kind of labor union type thing.

An hour of labor is very expensive except for the people you own, I mean employ.

Not true! Lawyers are charging almost $500 per hour.

"It's one banana hour of labor, Michael. What could It cost, 10 dollars?"

Don't forget that equifax is now generating employee scores so employers can figure out who is the most desperate and will take the lowest pay, on top of who will actually be a good employee

Profit = revenue - expenses

If you want to maximize profit, you have to increase revenue and decrease expenses; that means raising the price of your product and/or service while also cutting your production costs. Labor is often the single largest production cost, so reducing labor costs is often one of the most effective ways to cut business expenses.

It isn't fair, it's capitalism. This is how capitalism works. The profits of a relative few - specifically the business owners, investors and executives - are the priority. All of us are expected to prioritize THEIR profit above all other considerations, even our own lives and well being.

Less-skilled labor is flat, more-skilled labor is up. The K-shaped economy. Nearly everything is completely different depending on which group you are talking about

An hour of labor definitely went up in price, it just doesn’t show on the paycheck side. Unless you look at the withholdings, some of it’s there.

I realized a while ago that I can’t afford to hire myself.

Have you tried ordering an hour of labor from any company? Those have gone up as well.

Have you tried paying an employee an hour of labor as a company? Paying an hour of labor has also gone up significantly.

Depends on whether that hour of labor is going to a company that then pays a fraction of the fee to the employee or not. If so, the employee makes the same and the company increased the price.

Because most of you didn't upcharge for your labor.

Notice how that's been the state of things for decades?

I see the OP hasn't been to a car mechanic shop lately

shop rate being near $200 even for private shops is wild

I wonder what the techs are making

this person does not buy hours of labor apparently