Journal Article

Wage Leaders and Laggards: Decomposing the Growth in Average Hourly Earnings

Abstract: Wage growth has accelerated gradually over the past two years, largely due to a pickup in wage growth in a few industries ? the wage leaders. {{p}} Another, larger group of industries ? the wage laggards ? has not contributed at all to the acceleration. But the wage laggards have seen relatively strong growth in hours worked over the past two years, indicating rising labor demand that could lead to a further acceleration in overall wage growth.

Keywords: Wages; Average Hourly Earnings;

JEL Classification: J30;

Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Macro Bulletin

Publication Date: 2017-02-15

Pages: 1-3