Searching for Higher Wages

Luis Armona, Samuel Kapon, Laura Pilossoph, Aysegul Sahin and Giorgio Topa

No 20150902, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Since the peak of the recession, the unemployment rate has fallen by almost 5 percentage points, and observers continue to focus on whether and when this decline will lead to robust wage growth. Typically, in the wake of such a decline, real wages grow since there is more competition for workers among potential employers. While this relationship has historically been quite informative, real wage growth more recently has not been commensurate with observed declines in the unemployment rate.

Keywords: Labor Economics; Macroeconomics (search for similar items in EconPapers)
JEL-codes: E2 J00 (search for similar items in EconPapers)
Date: 2015-09-02
New Economics Papers: this item is included in nep-mac
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