I agree! But workers can organize today while moving forward improvement with each election result (which will take time; for example, 1.8M voters over the age of 55 die every year, 4M young folks age into voting ability at 18 in the US). Luckily, the entire world is getting old fast [1] [2] [3], which means there is a shrinking population of total workers; makes it more difficult to have workers compete against each other race to the bottom style.
Won't less workers also mean less consumers therefore less demands for goods and sdervices?
People keep saying how the declining demographics will mean the workers have more leverage but when will that come? As currently I'm struggling to find a job and a recruiter who rejected me just told me they have huge supply of "strong candidates" and they don't need to compromise anymore on offering WFH or accepting only English speaking candidates.
Maybe by the time I retire I can see that leverage?
> Won't less workers also mean less consumers therefore less demands for goods and sdervices?
Longer convo for another thread, but TLDR yes, "structural decline." Trajectory is a function of how fast folks age out of the working population (retire or death), because cohorts coming up behind them keep shrinking.
[1] https://www.weforum.org/agenda/2020/02/ageing-global-populat...
[2] https://en.wikipedia.org/wiki/Aging_of_China
[3] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8505790/