For displaced workers in Washington state during the Great Recession, earnings dropped suddenly and had still not fully recovered five years later, according to a new article.
When labor markets tighten, wages are expected to rise. But in recent years, as unemployment has fallen below 5 percent in the United States, wages have not been increasing as fast as in the past. Economists debate the reasons; workers grapple with the consequences.
NPR’s Audie Cornish talks to Peter Coy, economics editor for Bloomberg, about why pay isn’t rising in the U.S., despite a falling unemployment rate.
For Japan’s mission to revitalize its once roaring economy, getting wages to rise is crucial. Conditions appear ripe for fatter paychecks: the tightest labor market since the 1970s, eight straight quarters of economic growth and record profits for Japan Inc. Yet economists expect only a 1 percent pay rise this year. This would be the biggest since 1997, but hardly enough to power a consumption boost to sustain stronger economic expansion.
Remember the spike in wages in January that sparked a selloff in stock markets and sent U.S. interest rates surging? Well, “the great inflation scare of 2018” apparently didn’t happen after all.
Business-as-usual but “better” isn’t enough to fix what’s broken here.
The maneuver is good for companies’ stock prices, but it may not help the overall economy — undercutting a central goal of the tax cuts.
In California, a longtime Senate Democrat didn’t earn the endorsement of her party for not being anti-Trump enough. In Pennsylvania, a Democratic candidate is campaigning against Nancy Pelosi.
A pair of stories based on leaked documents from the DCCC has furthered the divide between the party establishment and the liberal activist class.