Millennials and Gen Zers in Asia don't want to work in factories. It means you could soon pay more for clothes, furniture, and toys.
while they're still relatively cheap. Prices could shoot up in the years ahead, and it's not just due to the hype around the new blockbuster film.Americans have grown used to splurging on, including clothes, TVs, furniture, and toys.
That's because factories across Asia that have traditionally produced many of these goods are struggling to find workers, The Wall Street Journal . In response, many manufacturers are raising wages and offering other perks — including yoga classes, better cafeteria food, and subsidized kindergarten for workers' children. when factories raise prices to offset their rising labor costs. The days of cheap stuff could be coming to an end.
"For U.S. consumers that have been used to having goods at a certain and relatively stable part of their disposable income, I think that foundation is going to have to be rejiggered," Manoj Pradhan, a London-based economist, told the Journal.
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