By Matthew Makowski The latest jobs report was rolled out by the U.S. Bureau of Labor Statistics last week. In case you haven’t heard, the unemployment rate in the U.S. hit 3.7%. That’s the lowest it’s been since December 1969.
Additionally, the closely tracked wage growth report signaled that wages grew 2.8% from 2017.
These statistics indicate an increasingly healthy labor market. And wages are being driven higher to attract an increasingly sparse supply of workers.
But we’re not quite there yet. Despite rising wages, the American worker is still undervalued.
The current rate of wage growth still puts us below the 3.5% needed to compensate for …read more