haha, I knew somebody was going to say this. Sorry, got personal and immigration reasons not to leave (green card process), so my hands are tied thanks to the us immigration system.
And it is not that easy to leave. A lot of people have personal reasons, to put up with less pay for a while, (i.e getting married in few months, planed vacation, some surgery to get done, work is close to home and to the kids school, hours are convenient) etc....
Pay is not the only thing, but if it gets too low, then eventually people move on. On the longer term things do correct, but on the shorter term not everybody has the option to leave. it's not like you are selling stocks, and moving to something else. Fluidity is limited.
And it is not that easy to leave. A lot of people have personal reasons, to put up with less pay for a while, (i.e getting married in few months, planed vacation, some surgery to get done, work is close to home and to the kids school, hours are convenient) etc....
Pay is not the only thing, but if it gets too low, then eventually people move on. On the longer term things do correct, but on the shorter term not everybody has the option to leave. it's not like you are selling stocks, and moving to something else. Fluidity is limited.