Economic Update - August 2017

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.

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