"In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages"
About this Quote
The specific intent is to widen the indictment. Joblessness is already bad; his point is that its damage radiates outward, quietly disciplining even the employed. A “larger number of people unemployed” becomes leverage against everyone’s paycheck, because employers don’t have to compete as hard. The subtext is solidarity-by-threat: if you’re working, don’t get comfortable. Your wages are being negotiated in the shadow of someone else’s layoff.
Notice the precision of “do not rise at the normal level,” which softens the blow before the harsher landing: “a drop in real wages.” He’s distinguishing nominal pay from purchasing power, translating economic pain into lived reality without getting sentimental. “Last year” anchors it to a recent, measurable moment, signaling accountability and urgency.
Contextually, this is the language of post-recession politics: leaders trying to explain why recovery doesn’t feel like recovery. It’s not just that people can’t find jobs; it’s that the jobs that remain can’t reliably buy a life.
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Citation Formats
APA Style (7th ed.)
Bishop, Tim. (2026, January 17). In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages. FixQuotes. https://fixquotes.com/quotes/in-addition-to-joblessness-of-course-by-the-78946/
Chicago Style
Bishop, Tim. "In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages." FixQuotes. January 17, 2026. https://fixquotes.com/quotes/in-addition-to-joblessness-of-course-by-the-78946/.
MLA Style (9th ed.)
"In addition to joblessness, of course, by the working of supply and demand, when you have a larger number of people unemployed, wages do not rise at the normal level, so that we had last year a drop in real wages." FixQuotes, 17 Jan. 2026, https://fixquotes.com/quotes/in-addition-to-joblessness-of-course-by-the-78946/. Accessed 12 Feb. 2026.
