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Published: August 5, 2022 (2 weeks ago)

Recover4all Professional 2.18 With Key PORTABLE Free Download Full Version


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Photographer: Alex Wong/Getty Images Photographer: Alex Wong/Getty Images

The U.S. wage-growth slowdown is not as bad as most of us think, according to Americans for Tax Fairness, a Washington-based lobby group.

The weekly average of weekly earnings had declined at a 2.4 percent annual rate since January 2014, the group said in its latest analysis, “but that’s not nearly as bad as we originally thought.”

The group based its new analysis on data from the Labor Department’s Bureau of Labor Statistics and the Federal Reserve Bank of St. Louis.

The slowdown in wage growth since the recovery began in 2009 has been attributed to a skills mismatch between workers’ education levels and the skills employers need, and a tighter labor market. A report earlier this month found that the U.S. is among the few advanced nations, including the U.K., Japan and Germany, to experience a slowdown in wage growth since 2008.

Earlier this month, Fed Chair Janet Yellen told a House Financial Services subcommittee that wage growth is “not as strong as we would like it to be” and the U.S. labor market “has not fully recovered from the financial crisis.”

Gross Domestic Product Growth

The growth rate also does not look as bad as previously thought, according to the group. “Our calculations show that during 2013-2015, GDP grew at an average annual rate of 2.2 percent,” said Americans for Tax Fairness economist Diane Swonk, one of the report’s authors.

Some economists are concerned that slower income growth could hurt consumer spending, which has been the biggest part of the U.S. recovery.

If the U.S. economy can’t generate enough wage growth to keep up with the growth in output, some economists predict that the economy will lose its current momentum.Welcome to the Piano World Piano ForumsOver 2 million posts about pianos, digital pianos, and all types of keyboard instruments
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