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Why aren't wages rising faster now that unemployment is lower? The decline of collective bargaining is one reason.

Oct 07, 2017
  • the new york times, orgainzed labor

Why Aren’t Wages Rising Faster
Now That Unemployment Is Lower?

By KARL RUSSELL and PETER S. GOODMAN OCT. 7, 2017

When labor markets tighten, wages are expected to rise. Basic economics tells us that when workers are in higher demand, employers should have to pay more for their services. But in recent years, as unemployment has fallen below 5 percent in the United States, wages have not been increasing as fast as in the past. Economists debate the reasons; workers grapple with the consequences.

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