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The low unemployment rate is the best it’s been in 18 years, but wages were growing faster back then
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The unemployment rate fell to 3.9 percent in April, the lowest it has been since the early 2000s — near the end of both President Bill Clinton’s second term and the dot-com boom. But wages back then were rising at a faster pace, while they’ve been pretty flat in today’s job market. Why? What are the differences then and now that make this full-employment scenario different when it comes to worker pay?
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