Low wages don’t mean more jobs

According to the European Commission’s latest employment report, Ireland has the third lowest manufacturing employment costs for the bosses. Despite all the whining about the indirect costs of employing extra workers, Ireland has the 4^th lowest indirect costs — only slightly above Britain, Portugal, Greece and Denmark.

The figures also demonstrate how there is little link between accepting wage freezes and employment. The countries with the highest wages are also those with the lowest unemployment. The countries with the highest unemployment are also those with the lowest wages. The bosses tell us accepting wage freezes will help create jobs. This is crap. It will, however, give them even larger profits. Once again there is no common cause between the bosses and the workers.