NEW REPORT: Wage #inequality marches on—and is even threatening data reliability epi.org/161043 by @eliselgould
"The data show not only rising inequality in general, but also the persistence, and in some cases worsening, of wage gaps by gender and race."
"Black–white wage gaps by education were larger in 2018 than in 2000 for all education groups."
The average wage for men with some college is still below its 2000 level.
"If the unemployment rate is allowed to continue to fall, eventually low unemployment should boost low- and middle-wage workers’ leverage enough to see steady and large wage gains."
"However, there is no sign that we’ve reached the limits of how much we can sustainably boost wage growth with lower unemployment—wage growth remains weaker than we should expect in a fully healthy economy."
"This means that confident proclamations that we’ve achieved full employment should not be made and that the Federal Reserve should hold off on any further interest rate increases and allow the economy to continue to grow."
"Full employment is one way that workers gain enough bargaining power to increase their wages; employers have to pay more to attract and retain the workers they need when idle workers are scarce."
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