Why Is Wage Growth So Low?

Jun Nie

Macro Bulletin, 2018, issue December 21, 2018, 1-4

Abstract: Real wage growth has been low in recent years despite continued improvement in the labor market. I examine the interaction between productivity growth and unemployment and show that low productivity growth largely accounts for the current low wage growth. If productivity growth were to pick up, the current low unemployment rate would likely strengthen the positive relationship between productivity growth and wage growth.

Keywords: Unemployment; Productivity growth (search for similar items in EconPapers)
JEL-codes: J30 J60 (search for similar items in EconPapers)
Date: 2018
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