The U.S. job market has steadily improved by pretty much every gauge except the one Americans probably care about most: Pay.
The unemployment rate has sunk to a nearly normal 6.1 percent. Employers have added a robust 2.5 million jobs the past 12 months. Layoffs have tumbled.
Yet most people are still waiting for a decent raise. Friday’s August jobs report confirmed that average hourly pay has crept up only about 2 percent a year since the recession ended five years ago—barely above inflation and far below the gains in most recoveries.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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