What’s Up with Wage Growth?
Document Type
Blog Post
Publication Date
3-7-2016
Publisher
Federal Reserve Bank of San Francisco
Language
en-US
Abstract
While most labor market indicators point to an economy near full employment, a notable exception is the sluggish rise of wages. However, this slow wage growth likely reflects recent cyclical and secular shifts in the composition rather than a weak labor market. In particular, while higher-wage baby boomers have been retiring, lower-wage workers sidelined during the recession have been taking new full-time jobs. Together these two changes have held down measures of wage growth.
Recommended Citation
Mary C. Daly, Bart Hobijn & Benjamin D. Pyle,
What’s Up with Wage Growth?
,
in
2016
FRBSF Economic Letters
(2016).
Available at:
https://scholarship.law.bu.edu/shorter_works/237
Publisher URL
https://www.frbsf.org/economic-research/publications/economic-letter/2016/march/slow-wage-growth-and-the-labor-market/
