Journal Article

Opinion: Is There a Wage Growth Puzzle?

Abstract: The Great Recession saw a weakening of labor markets that was, by some measures, the worst since the Great Depression. On an aggregate level, labor markets have since recovered substantially ? the unemployment rate has fallen from a peak of 10 percent to just above 4 percent. At the same time, data on wages and hiring highlight something that has puzzled macroeconomists: As the labor market reaches levels consistent with full employment, wage growth seemingly remains slow.

Keywords: wage growth;

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2017

Issue: 4Q

Pages: 44-44