rising tide lifts all boats...
Posted on 10/05/2019 8:37:54 AM PDT by Hojczyk
It turns out that all three of those things are happening right now.
According to analysis by Nick Bunker, an economist with the jobs site Indeed, wage growth is currently strongest for workers in low-wage industries, such as clothing stores, supermarkets, amusement parks, and casinos. And earnings are growing most slowly in higher-wage industries, such as medical labs, law firms, and broadcasting and telecom companies.
Bunker’s analysis is not an outlier. A Goldman Sachs look at data from the Bureau of Labor Statistics found growth for the bottom half of earners at its highest rate of the cycle. And even among that bottom half, the biggest gains are going to workers earning the least. A New York Times analysis of data from the Federal Reserve Bank of Atlanta found that wage growth among the lowest 25 percent of earners had exceeded the growth in every other quartile.
In fact, according to Bunker’s research, wages for low-income workers may be growing at their highest rate in 20 years.
But good things can happen while Trump is president, and Keynes was right. “Tighter labor markets sure are good for workers who work in low-wage industries,” Bunker told me. “This recovery has not been spectacular. But if we let the labor market get stronger for a long time, you will see these results.”
(Excerpt) Read more at theatlantic.com ...
They act so surprised.
This is in the Atlantic....an almost positive article..
Dry up the supply of illegal workers, and supply and demand forces higher wages on the income group that competes with the illegals. No surprise at all.
Don’t know the stats, but if Trumps’s border security efforts are working could also be fewer illegal aliens coming in to depress wages in these sectors?
rising tide lifts all boats...
In the Atlantic, no less, a leftist pseudo-intellectual rag.
Hi.
“The Atlantic” published this story?
5.56mm
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