Eric Morath

speaker

273 appearances 6 recordings 1 series first heard Sep 2017 last heard Sep 2020

Eric Morath’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Real Wages Are Steady, But How Long Can Trends Last? · 26 Sep 2017 podcast

And that way, you know, it could exceed the rate of inflation, even if inflation ticks above 2%, where it hasn't been for five years.

It's already happening.

I talked to a catering company, for example, in the Denver, Colorado area, and she said she's raised her wages from 12 all the way up to $15 an hour for just a server at, you know, a wedding.

And she's still struggling to find workers and offering bonuses and things like that.

So it's happening in certain areas of the country.

Denver has one of the lowest unemployment rates in the country.

It's not happening everywhere.

So I think that there's going to be pockets of industries and pockets of the country where you're going to see solid wage growth, and you already are.

But there's other places everywhere.

where they're just going to lag behind.

We have an uneven economy across this country.

Well, I think the workforce is only going to tighten further.

We have historically low unemployment, below 5% unemployment this year.

I think at this point, we're attracting some people into the workforce.

People that maybe had been out since the recession are saying, oh, I hear there's a lot of jobs out there.

I see wages might be going up here in inflation-adjusted terms, at least, that it's worth me exploring getting back in the workforce.

But that

that's not an unending pool of labor.

And what is happening is, you know, Americans are getting older and there's probably going to be, you know, a smaller share of the population that we will be actively working or looking for work over time.

So I think that there's outside of a negative economic shock.

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