Last month, I wrote an editorial for @MarketWatch on the declining fortunes of the American wage earners. And this week, the BLS released new data on wage growth in the U. S. economy. The new numbers are ‘shiny’.
Per headlines reported in the media, the BLS reported that the annual increase in Average Weekly Earnings was an impressive 2.9%, which is:
Well above the 2.5% rate of growth expected in prior estimates, Well above the 2.5% reported last month, and The highest since the financial crisis This is a great print. Except, it really is not all that exciting, when one reaches below the surface.
Take the following summary of recent growth rates (H/T @BySamRo):
This post was published at True Economics on Saturday, October 7, 2017.
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