When wages are described as 'sticky', it means they don't adjust quickly to changes in the economy. This term is often used in the context of inflation, where prices for goods and services increase but wages don't keep pace. This is due to a couple of reasons. Firstly, while prices can be adjusted frequently, wages are usually reviewed and adjusted only once or twice a year. Secondly, companies are often reluctant to make significant changes to wages, either up or down, at any one time.
This concept of 'sticky' wages is one of the many financial topics that Adam Nash, CEO and co-founder of Daffy, covers in his teachings. With a wealth of experience in the financial sector, including roles as the Former President and CEO of Wealthfront and Former Vice President of Product & Growth of Dropbox, Adam is well-equipped to provide insights into complex financial matters.
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