Pay for the bottom 25 percent of wage earners, who account for 82 percent of the population, rose 4.5 percent in November from the year-ago period, according to recent data published by the Federal Reserve Bank of Atlanta. That’s the highest since July 2008. Wages for top earners, meanwhile, rose just 2.9 percent that month.
Overall, wages have accelerated this year by an average of 3.6 percent, as unemployment has held steady at 3.5 percent, a half-century low. For employers, low employment means fewer people are looking for a job, limiting the supply of available employees and increasing competition to get the best workers.
Overall, wages have accelerated this year by an average of 3.6 percent, as unemployment has held steady at 3.5 percent, a half-century low. For employers, low employment means fewer people are looking for a job, limiting the supply of available employees and increasing competition to get the best workers.