Why Wages Are Finally Rising, 10 Years After the Recession
Lagging pay in a lengthy recovery defied the usual logic. Economists now have a better idea of the reasons and patterns behind the belated bounce.
It was the slack what killed wage growth. The evidence is now overwhelmingly clear, as
Weak wage growth has been the dark cloud over the otherwise strong economic recovery. But that may finally be changing.
At the moment when many people are bashing capitalism wage growth for the poorest workers is rising 4.4 percent a year.
When businesses have to compete for workers, they raise wages and improve working conditions. This is finally happening for American workers for the first time in ages. Importing a flood of cheap foreign labor on more H-2B visas threatens that growth.
"The job market wasn’t as good as the unemployment rate made it look. The government’s official definition of unemployment is relatively narrow.… In recent months, more than 70% of people getting jobs had not been counted as unemployed the previous month"
It’s amazing what a tight labor market can do Why Wages Are Finally Rising, 10 Years After the Recession
Good news: "Recent wage gains are going to those who need it most." In the past year, low-wage workers have experienced the fastest pay increases, a shift from earlier in the recovery. Good analysis from
#jobs #wages #economy
"The Economic Policy Institute found that over the past five years, wages for low-wage workers rose 13 percent in states that raised their minimum wages, compared with 8.4 percent in states that did not."
On any article about wage levels, I do a text search for "migra" to see if the author mentions "immigration" as a factor. In this, as in about 97% of articles, immigration isn't brought up. "Why Wages Are Finally Rising, 10 Years After the Recession"
The unemployment rate isn't a full measure of joblessness (especially for African Americans and American Indians).
The neolib elite finally fucking wakes up to the low labor force participation rate.
Wages are finally going up for middle class workers Even the NY Times can't ignore it RT so the media has to challenge the Democrats with their own lies!
"Americans were competing against lower-paid workers overseas and against robots at home." But they're immune to competition from lower-paid workers from overseas who travel here? MUST NOT MENTION IMMIGRATION. Those are the rules.
Nice piece by
on labor markets, and growing evidence that prime-age employment is a better indicator than the unemployment rate. But if so, we should also consider international implications 1/
State minimum wage increases are affecting wage growth at the bottom. (Though this is likely a small factor in the overall wage growth uptick in recent months, which is mainly driven by tightness.)
It was the slack what killed wage growth.
Why Wages Are Finally Rising, 10 Years After the Recession: nice piece by
. The proximate answer is that the prime-age non-employment rate is finally down. But this still raises the question of why it had remained so high for so long.
Perhaps the biggest political reward for Rs in the latest jobs report: Wages are rising.
Why wages are finally rising, 10 years after the recession. Perhaps the job market wasn’t as good as the unemployment rate made it look.
Big problem for those who think the economy has been a disaster in recent decades: measured from mid-90s trough, median men's wages are up 20%. AHE of nonsuper/prod workers are up >30%