interesting data on wages - people have been complaining about low wage growth data for a long time, but as with most data, they have been misleading due to our aging population.
This suggests the wage data show low wage growth because aging baby boomers are retiring quickly and beiong replaced by millienials. The baby boomers had been paid much beccause they are old. the millenials are paid less because they are young.
Obviously the millenials will earn more as they age.
Adjusted for this effect, wage growth is currently more than 5%. Which would match the economy's positive other indications.
Except inflation. Why is there so little inflation? Could be just that tech is so good at creating efficiencies.
"Median weekly earnings actually rose in the second quarter to 4.2 percent, on an annual basis, according to the U.S. Department of Labor. That’s the fastest pace since 2007. Adjust for baby boomers and that would rise to 5.2 percent."
https://www.bloomberg.com/news/articles/2017-08-14/fed-study-finds-wages-adjusted-for-baby-boomers-rising-just-fine