Pittance Pay

badpay1Two weeks ago, the Department of Labor reported that private sector employee compensation rose 2.3% Y-o-Y, the highest level since the start of the Great Recession but quite low. Last Thursday, the DOL reported that unit-labor-costs, a measure of worker wages adjusted for changes in worker productivity, rose just 1.5% Y-o-Y. Finally last Friday the Bureau of Labor Statistics reported that hourly pay rose 2.2% Y-o-Y. Wage growth remains MIA.

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