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The Best Economic News No One Wants to Talk About
Posted on: October 5, 2019 at 13:30:02 CT
JeffB MU
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Something’s happening to wages that neither Democrats nor Republicans care to acknowledge.
Derek Thompson
Staff writer at The Atlantic
https://www.theatlantic.com/ideas/archive/2019/10/labor-departments-new-report-isnt-so-gloomy/599491/
...
So, let’s play a game of wish-casting.
* Imagine a world where wage growth was truly stagnant only for workers in high-wage industries, such as medicine and consulting.
* Imagine a labor market where earnings growth for low-wage workers, such as those who work in retail and restaurants, had doubled in the past five years.
* Imagine an economy where wages for the poorest Americans were rising twice as fast as hourly earnings for high-wage earners.
It turns out that all three of those things are happening right now. ...
Derek Thompson
Staff writer at The Atlantic
https://www.theatlantic.com/ideas/archive/2019/10/labor-departments-new-report-isnt-so-gloomy/599491/
...
So, let’s play a game of wish-casting.
* Imagine a world where wage growth was truly stagnant only for workers in high-wage industries, such as medicine and consulting.
* Imagine a labor market where earnings growth for low-wage workers, such as those who work in retail and restaurants, had doubled in the past five years.
* Imagine an economy where wages for the poorest Americans were rising twice as fast as hourly earnings for high-wage earners.
It turns out that all three of those things are happening right now. ...
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The Best Economic News No One Wants to Talk About - JeffB MU - 10/5 13:30:02