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Federal Reserve Bank of Kansas City
Macro Bulletin
Wage Leaders and Laggards: Decomposing the Growth in Average Hourly Earnings
Willem Van Zandweghe
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.

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.


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Willem Van Zandweghe, "Wage Leaders and Laggards: Decomposing the Growth in Average Hourly Earnings" , Federal Reserve Bank of Kansas City, Macro Bulletin, pages 1-3, number 00050, Feb 15 2017.
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Keywords: Wages; Average Hourly Earnings
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