Listen To The Story
Marketplace

The June employment report from the Bureau of Labor Statistics showed strong job growth – 222,000 – and a 0.1 percent rise in the unemployment rate to 4.4 percent, as more job-seekers entered the labor force. But the rise in average hourly earnings was anemic—up 0.2 percent month over month, 2.5 percent year over year. As the labor market approaches full employment, economists expect wages to rise significantly faster than overall inflation. Faced with labor shortages and unfilled positions, employers usually increase salaries to attract and retain qualified workers. That has not happened so far at this late stage of the economic recovery. Some employers say they are raising wages, but not more than their competitors, so as not to be priced out of the market in a low-inflation environment where increased costs are hard to pass on to customers. 

Click the audio player above to hear the full story.

“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VA

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial decisions or just encouraged you to think differently, we’re asking you to give a little something back.

Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.

Follow Mitchell Hartman at @entrepreneurguy