July 10, 2017

WINNING THE WAR ON WAGES:

Data reveal: how automation is suppressing wages (Christopher Matthews, 7/09/17, Axios)

[A]s we saw in the latest jobs figures on Friday, average U.S. hourly earnings have barely exceeded inflation for three years running.

What's going on? The answer may lie in the Wage Growth Tracker (below), an alternative gauge produced by the Federal Reserve's Atlanta bank. It substantiates what a lot of people have suspected: that older, higher-paid workers are leaving the workforce and being replaced with cheaper, younger workers who hold little bargaining strength when they can be quickly replaced by automation.

It's a deflationary epoch.

Posted by at July 10, 2017 4:37 AM

  

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