UK Only Article:
The never-ending story
Wage growth is at last accelerating. But living standards will continue to stagnate
THE last time unemployment in Wisconsin was as low as today’s 4.3% was in April 2001. George W. Bush had been president for a mere three months; Gladiator had just cleaned up at the Oscars. Usually, economists have to look back just one recession to gauge the strength of a labour-market recovery; in Wisconsin, they must go back two. With their talents in such demand, today’s Wisconsinites might have expected bumper pay rises in 2015. Instead, they have been disappointed. Hourly wages rose by just 1.1% in the past year—and are lower than they were 18 months ago.
The Badger State is not alone. The same curious combination of booming labour market and meagre pay rises has characterised the economy as a whole for most of 2015. At 5%, nationwide unemployment is more or less as low as the Federal …
via Economic Crisis http://ift.tt/1RQpauo