ADP Chief Economist on Living Wages

The video discusses the global issue of living wages, highlighting the gap between market wages and the cost of living. It emphasizes the benefits of paying fair wages, such as increased employee engagement and social stability. The roles of both public and private sectors in addressing wage issues are explored, with a focus on government intervention and company responsibilities. The dynamics of the labor market, including labor shortages and their impact on wage bargaining power, are also examined.

In what ways can governments intervene to address the gap between market wages and living wages?

How do labor shortages affect the bargaining power between employers and employees?