Wage stagnation — the myth and reality
12/16/19
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from The Washington Post,
12/15/19:
One of the perplexing economic questions these days is why wage growth has been so slow despite the longest economic expansion in U.S. history (now in its 11th year).
By conventional wisdom, tight labor markets should be raising wages much faster than is occurring. The logic is simple. With low unemployment, workers can quit their jobs and find something better. Companies have to boost wages to attract new workers or keep the ones they’ve got. This is Economics 101.
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