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Searching for Higher Wages

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Abstract

Since the peak of the recession, the unemployment rate has fallen by almost 5 percentage points, and observers continue to focus on whether and when this decline will lead to robust wage growth. Typically, in the wake of such a decline, real wages grow since there is more competition for workers among potential employers. While this relationship has historically been quite informative, real wage growth more recently has not been commensurate with observed declines in the unemployment rate.

Suggested Citation

  • Luis Armona & Samuel Kapon & Laura Pilossoph & Ayşegül Şahin & Giorgio Topa, 2015. "Searching for Higher Wages," Liberty Street Economics 20150902, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87060
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    More about this item

    Keywords

    Labor Economics; Macroeconomics;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • J00 - Labor and Demographic Economics - - General - - - General

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