Good article examining why wage growth had been lagging and is finally starting to take off,
AND, especially important, imo, the long ignored working poor are finally, getting the most benefit.
I consider this a wonderful thing, and think we need to do more of what led to these good numbers.
Discuss.
Why Wages Are Finally Rising, 10 Years After the Recession
"Average hourly earnings in April were 3.2 percent higher than a year earlier, the ninth straight month in which growth topped 3 percent, the Labor Department reported Friday.
Other measures diverge on the exact timing and rate of increase, but not on the basic trend: Wage growth, long stuck in neutral, has at last found a higher gear.
“We’ve spent several years going, ‘Where is the wage growth? Where is the wage growth?’” said Martha Gimbel, an economist for the job-search site Indeed. “And it turns out we just had to wait a few years for the labor market to get tighter....”
...The recent gains are going to those who need it most. Over the past year, low-wage workers have experienced the fastest pay increases, a shift from earlier in the recovery, when wage growth was concentrated at the top."
AND, especially important, imo, the long ignored working poor are finally, getting the most benefit.
I consider this a wonderful thing, and think we need to do more of what led to these good numbers.
Discuss.
Why Wages Are Finally Rising, 10 Years After the Recession
"Average hourly earnings in April were 3.2 percent higher than a year earlier, the ninth straight month in which growth topped 3 percent, the Labor Department reported Friday.
Other measures diverge on the exact timing and rate of increase, but not on the basic trend: Wage growth, long stuck in neutral, has at last found a higher gear.
“We’ve spent several years going, ‘Where is the wage growth? Where is the wage growth?’” said Martha Gimbel, an economist for the job-search site Indeed. “And it turns out we just had to wait a few years for the labor market to get tighter....”
...The recent gains are going to those who need it most. Over the past year, low-wage workers have experienced the fastest pay increases, a shift from earlier in the recovery, when wage growth was concentrated at the top."