The amount people get paid?
Is actually dropping even with various states and cities raising the minimum wage….
Oh, and anybody notice that more stores are going to self checkout machines more and more?
The 3.9% unemployment rate in April set a new post-recession low. But a big reason it dropped from 4.2% in March was because the labor force shrank by 236,000 people.
Wage growth, which economists have said should pick up as the labor market tightens, slowed in April in a discouraging sign for workers.
Average hourly earnings increased 4 cents to $26.84 after a 6-cent increase in March. Despite that decline, annual wage growth held steady at 2.6% for the 12 months ended April 30.
Federal Reserve policymakers have been concerned that faster-rising wages as employers face increasing competition for workers would lead to significantly higher inflation. But Friday’s data should ease those concerns for now…..