[seanccox]

This is a common misunderstanding about the relationships between companies, employees, and markets.

Companies aren't the originators of jobs. Instead, demand for goods/services can reach a threshold that makes corporate organization for profit viable, and in so doing, requires that employees be hired to fill the demand. If there isn't demand for a good/service, then even a company that is providing it will be unable to pay people. On the other hand, if demand for that good/service exceeds the capacity of the company, they will hire more people (and/or more companies will be created to compete for business).

[manigandham]

That demand is not in a vacuum, it also depends greatly on price. Increasing prices will reduce demand, and thereby reduce viability.

[WorldMaker]

Except that it is not that simple either, because prices don't live in a vacuum. Demand is also affected by people's ability to spend. People with insecure lifestyles are less likely to spend. People whose entire lives are spent working just to make a livable wage aren't likely to spend much beyond bare necessities.

[zdragnar]

Price increases to accommodate higher wages will drive down demand. The net result is fewer jobs, or replacing those jobs with other things... Robotic fry cooks aren't economical at current wages, but from what I've heard it's a near thing.