what? can anyone explain this, from their point of view? what is the logic, from their point of view?
Robert Naiman Policy Director Just Foreign Policy www.justforeignpolicy.org [email protected] (202) 448-2898 x1 On Mon, Jan 5, 2015 at 2:10 PM, Eugene Coyle <[email protected]> wrote: > The Federal Reserve in San Francisco has looked into the question of why > wage growth is so slow. > > I have not read the full letter but I think sharing the beginning with you > is very important. > > here it is: > > > FRBSF Economic Letter > > 2015-01 January 5, 2015 > Why Is Wage Growth So Slow? > Mary C. Daly and Bart Hobijn > > Despite considerable improvement in the labor market, growth in wages > continues to be disappointing. One reason is that many firms were unable to > reduce wages during the recession, and they must now work off a stockpile > of pent-up wage cuts. This pattern is evident nationwide and explains the > variation in wage growth across industries. Industries that were least able > to cut wages during the downturn and therefore accrued the most pent-up > cuts have experienced relatively slower wage growth during the recovery. > > Read full article > > > IT IS THOSE PENT-UP WAGE CUTS !!!!!! > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l >
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