Kevin Carmichael: Persistent labour shortages may prove a bittersweet victory for workers CarmichaelKevin
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Those changes were good for profits, but they were also good for prices — after surging to double digits in the 1970s, inflation has been stable around two per cent since the early 1990s. We started buying more goods and services than ever. Household consumption consistently represented about 50 per cent of GDP until the mid-2000s, and then it broke higher.
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