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

I think that you will see fewer available workers and the theory has it that that should push wages up and,

You know, we haven't seen that maybe in terms of nominal terms, but it turns out that when we look kind of underneath the hood, we are seeing it in terms of real wage growth.

I mean, so nominal or excuse me, real wage inflation adjusted wages are at the highest level since 1973.

You can take that as a positive in terms of a long climb back to to reachieve these levels.

And then, of course, other economists say, you know, hey, it means a lot of Americans really aren't any better off than they were over 40 years ago.

And that, you know, we do still have some ground to make up.

Happy to join you.

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

This is Your Money Matters from The Wall Street Journal.

Thanks for having me.

Yeah, so that's definitely where we're at.

We've seen 2.5% wage growth.

pretty much be the norm for the past two years, which is not bad, but it's certainly historically below average for this deep into an economic expansion.

But we saw a little bit of a different story when you adjust that small gain for inflation.

When you adjust for inflation, which has been historically low for the past five years, wages, inflation adjusted wages, what economists call real wages, have actually grown faster during this economic cycle since 2007 than in the

2000s, the 1990s, the 1980s, times where people say, hey, those are boom times.

Those are really good.

It's kind of interesting because in the 1980s, inflation adjusted wages fell, even though overall Americans, when you don't adjust them, your paychecks were going up quite a bit.

Sure.

So looking forward, though, that's an excellent question.

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