Six reasons why Average Houring Earnings are not rising fast
1. Boomers and Millennials - Higher-paid baby boomers are retiring and being replaced by younger and less experienced workers who start at lower salaries
2. Global labor market creates price controls - Americans are directly or indirectly competing in a worldwide pool of workers like never before.
3. "Price" Control -Not government-mandated controls, Stiff global competition caps U.S. wages by preventing companies from raising prices to cover higher labor costs
4.Technology progress - Technological advances have spawned a new revolution in business models that dramatically lower costs, including the price of labor
5.Recession scars -The great recession of 2007-2009 made Americans less secure and more fearful of losing their jobs, leading them to move around less frequently and be less aggressive in seeking higher pay.
6.Low productivity - productivity has been unusually weak. it grew an average of 1.1% from 20077 to 2016.
Annual Changes from same period in previous year
Annual Changes
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| NOTE: For 2017, the data is as of July 2017 |
http://www.marketwatch.com/story/six-reasons-why-most-americans-arent-getting-big-pay-raises-2017-08-22
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