MAGA
US employers are stepping on the accelerator -- and that's lifting average salaries and fueling record raises across many sectors. For the typical American worker, pay increases could soon surge past 4 percent or 5 percent for the year, according to labor experts.
By any stretch, the number crunchers say, it's a big jump to catch up on the anemic salary growth over the past 10 years, thanks to the law of supply and demand and a booming economy. Job openings recently surpassed the number of unemployed by 1.3 million. And it's starting to trigger bottlenecks.
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Average hourly earnings in the private sector have risen by 3.2 percent in the past year. By Frick's account, while global forces such as outsourcing could still hold back wage increases, by as early as next year the US could potentially see wages rise an average of 4.5 percent -- similar to the peak of the 2000s' expansion -- or even as much as 5.5 percent, as happened at the peak of the 1990 to 2001 expansion.
Robert Johnson, chairman and CEO at Economic Index Associates, is convinced the US economy will see strong wage growth, possibly north of 4 percent over the coming months and next few years. Johnson attributes this to productivity gains and labor shortages.
https://nypost.com/2019/05/18/average-us-salaries-on-the-rise-thanks-to-booming-economy/
US employers are stepping on the accelerator -- and that's lifting average salaries and fueling record raises across many sectors. For the typical American worker, pay increases could soon surge past 4 percent or 5 percent for the year, according to labor experts.
By any stretch, the number crunchers say, it's a big jump to catch up on the anemic salary growth over the past 10 years, thanks to the law of supply and demand and a booming economy. Job openings recently surpassed the number of unemployed by 1.3 million. And it's starting to trigger bottlenecks.
...
Average hourly earnings in the private sector have risen by 3.2 percent in the past year. By Frick's account, while global forces such as outsourcing could still hold back wage increases, by as early as next year the US could potentially see wages rise an average of 4.5 percent -- similar to the peak of the 2000s' expansion -- or even as much as 5.5 percent, as happened at the peak of the 1990 to 2001 expansion.
Robert Johnson, chairman and CEO at Economic Index Associates, is convinced the US economy will see strong wage growth, possibly north of 4 percent over the coming months and next few years. Johnson attributes this to productivity gains and labor shortages.
https://nypost.com/2019/05/18/average-us-salaries-on-the-rise-thanks-to-booming-economy/
