Where Has the Wage Growth Gone?
By many accounts the United States labor market is booming.
By many accounts the United States labor market is booming. In July, the labor market posted its 82nd straight month of job creation and the unemployment rate fell to a 16-year low of 4.3 percent. However, despite these strong results, one important ingredient has been missing – wage growth.
As the unemployment rate continues to remain low and an increasing number of businesses struggle to find qualified talent, wages should be rising – but, they haven’t. This is a concerning trend not only for economists, but for everyday Americans who feel the effect in their pocketbook.
Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, to get his insight into what may be holding back wage growth and what he sees going forward.
The division of Economics and Public Policy at Zions Bank informs and educates employees, clients, and the community-at-large by providing insight and analysis on issues related to local, national and global economic trends as well as federal banking policies. The primary goal of the Economic and Public Policy team is to help individuals and businesses understand important issues that can impact their daily financial decisions. For more information and analysis, please visit zionsbank.com/economy.
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