The low unemployment rate is the best it’s been in 18 years, but wages were growing faster back then

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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