Dec
26

Pathetic Pay

While unemployment is at a 50-year low at 3.5%, wage growth is relatively weak, and at 3% has declined over the past year. This is partly because job growth in manufacturing has stopped and partly because those reentering the job market have very limited skills. However, the major reason is the percentage of new jobs paying above the average weekly wage is just 44%, down from 49% in 1990.

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