Does this mean we should be expecting the recession, in next month’s or month after’s data? Maybe, maybe not.
Category Archives: labor market
Real Wage Growth – Mean and Median
With the labor market release, we have a new read on real wage growth.
Real Wage Growth and Inflation Prospects
On MarketPlace with Justin Ho, yesterday. I remarked that wage growth (on a 12 month basis) still outstripping inflation.
Mean and Median Cumulative Wage Growth
Inflation has not kept with wage growth over the last year.
The Minimum Wage Apocalypse on Elliott Bay (or Not)
Remember those warnings of an economic apocalypse in Seattle as the minimum wage was raised up to $15-16 per hour? Mark J. Perry was at the forefront of this (faulty) thesis. Having to teach Contemporary Public Affairs this semester, I was moved to return to this debate.
Mean and Median Average Hourly Earnings Growth Compared
Anonymous tells a story about an old engineer regaling people with aphorism like “you may know the significant digits but do you know the significance of the number”, in talking about what the average joe is experiencing. Here are some easily calculated numbers showing the distinction between mean and median average hourly earnings (note that median usual weekly earnings are the product of median earnings and median hours worked).
Better to Light One Candle than Curse the Darkness*: Real Wage Edition
We live in an age where tons of data are easily available. It is highly unlikely that the US government is suppressing data, e.g., median hourly wage data, in an effort to provide an overly optimistic picture of the US economy. That’s an unlikely conspiracy.
The Labor Market – Bargaining Power, Wages, Inflation
From WPR yesterday, UW Madison experts:
Real Median and Average Earnings, Normalized to NBER Peak
Timely Data on Median Wages
A reader complains that data on median real wages are not available on a timely basis (as compared to average real wages). What does this purportedly suppressed data indicate about the evolution of real wages?