Apr 26 2022
New JEC Report Shows Strong Wage Growth in 2021, Federal Policy Key to Supporting Further Gains
Today, the Joint Economic Committee (JEC) released a new analysis of wage data that shows workers saw their earnings rise 4.5% in 2021, the fastest pace of growth in almost four decades.
According to recent data, gains were particularly strong for job switchers and low-income workers. Despite inflation, many workers are seeing real wage gains, a reflection of strong consumer demand for both goods and services. Strong demand for workers improves workers’ bargaining power and their wages.
According to recent data, gains were particularly strong for job switchers and low-income workers. Despite inflation, many workers are seeing real wage gains, a reflection of strong consumer demand for both goods and services. Strong demand for workers improves workers’ bargaining power and their wages.