It’s alive! 2004-2007 is back!

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slok_apollo_lv 23.08.2017. 12.48

Morten has not mentioned one big problem in Riga at the moment, The extremely big shortage of blue collar labour. Hotels and restaurants are unable to find employees for non qualified jobs. What is the use of building so many new hotels when there is no staff to fill vacancies? Maris Slokenbergs

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    Vladimir > slok_apollo_lv 28.08.2017. 20.38

    Morten does generally state it here:

    “And then the story is the usual: Such a quite tight labour market creates competition for able labour; this bids up wages…”

    Which should relate to your point as “Hotels are unable to find employees at the rates they are willing to pay them”.

    Hence they will have to adjust the compensation upward joining other businesses in driving up inflation.

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delxx 22.08.2017. 14.58

The important difference from 2005-2007 is complete lack of credit growth. Thus the economic correction will be shallow and fast.

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