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Private sector wages and benefits are on the upswing, but economists caution celebrating

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We are finally starting to see some signs that the tight labor market is pushing up wages. New numbers out today from the Department of Labor show wages and salaries in the private sector are up 2.8 percent from this time last year. That doesn’t leave too much extra cash for workers once you factor in inflation, but it’s the best number we’ve seen on this since early 2015. It does have some wondering, with such low unemployment, what took so long?

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