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It’s slowing fastest for workers in low-wage and entry-level jobs.
More productive workers are more profitable. So why not hire more of them?
The wage hikes are likely a move to remain competitive.
For the first time in 15 years, data from the Atlanta Fed shows that people who switch jobs haven’t been getting any more of a pay bump than people who stick with the same company.
Average hourly earnings rose 0.5% from December and 4.1% year over year, outpacing forecasts as well as inflation. Was it just a blip?
The Federal Reserve has wanted cooling inflation coupled with steady employment. It’s gotten that.
An economic concept known as the Baumol effect helps explain wage increases in industries immune to technological change.
The $7.25 federal minimum wage has not changed for more than 15 years, but state and local increases have proved popular with voters.
Workers at the bottom 90% had stronger wage growth than the top 1% in the years since the pandemic, according to the Economic Policy Institute.
There’s good reason to believe productivity will stay strong. When the labor market was tight, employers invested in upgrades.