While many fret that wage growth is miniscule despite the sizable decline in the unemployment rate, the concern is misplaced. Since 1990, the inflation rate has rarely risen unless the unemployment rate has fallen below 5.5%. With the unemployment rate currently at 5.8%, and at the rate it’s falling, wages may start to rise as early as summer. If wages growth remains largely stagnant when unemployment hits 4.5%, then worry.