Wages

The economy continues to transition but we have not seen any fundamental changes in the last few years.

The need for skilled workers at high wages continue while the need for unskilled labor  is pretty much stagnant.

This has led to the lack of wage growth we have seen over the last decade or longer as the jobs available actually pay less than the jobs lost.

We are however going to reach a tipping point where everyone is transitioned and wage growth is measured on an apples to apple basis, meaning you had a low paying job last year and you still do.

The impact of that is that any raise you get actually increases average wages and you also will see some natural progression as workers seek promotions or higher paying jobs.

Wage growth is approaching 3% year over year and may exceed it this report, but while 3% is clearly better than 0% its being added in many cases to a suppressed wage rate.

Suppressed from the heavy manufacturing years for the ex factory workers an others impacted by the push to automation.

The economy is growing but the rewards are still top heavy and yes there is some pressure in some cities to increase wage or automation (note ordering kiosks in fast food restaurants) it isn't a return to the 1950s where high paying factory jobs with strong unions and good benefits were plentiful.

Low paying, no unions, no benefits is more the norm for non-skilled workers.

Its not changing anytime soon.