Wage Reduction Quotes

Making labor less expensive helps firms hire people.

There is no way of keeping profits up but by keeping wages down.

Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the wage.

… immigration reduces the wages of domestic workers who compete with immigrants. That’s just supply and demand: we’re talking about large increases in the number of low-skill workers relative to other inputs into production, so it’s inevitable that this means a fall in wages.

Firms don't just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm's behalf if they feel that wage policies are unfair?

Suppose, … that the making of the new machinery affords employment to a greater number of mechanics, can that be called compensation to the carpet makers, thrown on the streets?

When politicians talk about immigration reform, they usually mean the following, amnesty, open borders, lower wages.

The more the division of labor and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together.

Several unions have agreed to larger employee contributions for their members. Taxpayers are living with cuts and making sacrifices to deal with the reality of California's budget crisis, state workers are going to have to do the same.

Mass layoffs produce big winners and losers. Most workers who remain are financially unscathed, even though their employer is struggling.

During my three years as chief economist of the World Bank, labor market issues were looked at through the lens of neoclassical economics. A standard message was to increase labor market flexibility. The not-so-subtle subtext was to lower wages and lay off unneeded workers.

I am always astonished that conservatives want to save money by paying workers less—driving down the wages of working people.

The fact that somebody is reducing your salary is just telling me they're not satisfied with what you're doing.

The Trump plan is a different plan. It's a you're fired plan. And there's two key elements to it. First, Donald Trump said wages are too high. And both Donald Trump and Mike Pence think we ought to eliminate the federal minimum wage.

One of the things that happens when you have austerity is that wages get lower, and some people think lower wages in the short run can increase corporate profits.

Economy: cutting down other people's wages.

Successive governments in the U.K. have worked to create a more flexible labour market, which also meant labour insecurity. They allowed wages to drop and non-wage benefits to shrivel, creating worse inequality than statistics reveal.

Unless I am presented with evidence that the producers of oil, coal or hides were unable to compete successfully without reduction of wages, then they do not need a duty and their articles should go on the free list..

I make a lot of money. I can take a pay cut. All my friends are taking pay cuts that are in the unions, that are - that are farming in Alabama or whatever it is. I can surely take a pay cut, too, not cutting down my show or - or the people that work for me, I can take a pay cut.

The bottom line is there are lots of problems that were not created by government. The biggest one is loss of middle class incomes, loss of good-paying jobs which was created by technology and globalization. Above all, when you can move a job to China or India, it reduces wages.

We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ] if we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.

I am quite happy to take a cut. You've got to, if you want to work and continue working.

The administration is using the devastation of Hurricane Katrina to cut the wages of people desperately trying to rebuild their lives and their communities.

I've never believed in lower wages. Never. Never believed in lower wages, I've never believed in lower wages as an economic instrument.

[Social legislation] raised the cost of production; and what can be more illogical than to raise the cost of production in the country and then to allow the products of other countries which are not surrounded by any similar legislation, which are free from any similar cost and expenditure freely to enter our country in competition with our own goods...If these foreign goods come in cheaper, one of two things must follow...either you will take lower wages or you will lose your work.