Housing, Energy Workers See Wage Gains, Others Left Behind
Since
the end of the 2008 recession, wage increases have been significant in select
industries, such as housing and energy. However, overall, wages have been close
to stagnant in recent years, according to Department of Labor data released
this week. That data shows that in the 12 months through February,
inflation-adjusted wages are up just 1.1%. Economists say that historically a
4% annual gain would be more normal for a period this deep in a recovery.
Americans that have prospered are those that either have hard to find skills or
have shown a willingness to relocate to remote regions to work.
Further Reading:
See NFIB’s view on wage increase, what’s keeping unemployment high, and how that affects your bottom line.
The Wall Street Journal runs a lengthy piece on
the issue.
This news article is intended to keep small business owners apprised of current events that may affect them. It does not necessarily reflect NFIB’s policy position on such issues.
