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"Annual increases in wages have clung near 2% since 2012 — not much faster than the rate of inflation — even though the labor market has tightened considerably." Not good.
And the all important, but under-reported U6, remains stubbornly high at 10.5%. Not good.
That has been the trend for a long time. The politicians like to take credit for something that is beyond their control. They don't tell the entire story to the general public. That would spoil their self imagined legacy.
Then there is the fact that today's new jobs pay less due to the fact they are primarily in the service industry, or they are not full time hours.
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http://data.bls.gov/generated_files/graphics/latest_numbers_LNS11300000_1978_2015_all_period_M06_data.gif
"Annual increases in wages have clung near 2% since 2012 — not much faster than the rate of inflation — even though the labor market has tightened considerably." Not good.
And the all important, but under-reported U6, remains stubbornly high at 10.5%. Not good.
DATA
Kevin
Then there is the fact that today's new jobs pay less due to the fact they are primarily in the service industry, or they are not full time hours.