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;
File format is application/pdf
Description: Full text
Provider: Federal Reserve Bank of Richmond
Part of Series: Econ Focus
Publication Date: 2017