More Evidence That the Job Market Is Tightening and Wages Are Headed Higher

[Purveyor]

The median U.S. worker enjoyed a pay increase of 3.5 percent year-over-year as of May, according to the Federal Reserve Bank of Atlanta's wage growth tracker.

Wage growth has been accelerating since October, quickening to a pace not seen since January 2009:


Source: Bloomberg

Wage growth for both women and employees in the services sector also posted fresh cycle highs.

This metric tracks the changes in pay among individual workers through time. Unlike the Bureau of Labor Statistics' average hourly earnings, this indicator is relatively immune from composition effects, which heavily influence average hourly earnings amid the exodus of baby boomers from the work force.

This measure of wage growth is far from the only metric suggesting that the U.S. labor market might be close to full employment.

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http://www.bloomberg.com/news/articles/2016-06-14/more-evidence-that-the-job-market-is-tightening-and-wages-are-headed-higher

[pipoman]

1. It is becoming a workers market here....

Entry level are difficult to find so starting wage is rising...when entry level goes up it creates a ripple fwlt all the way to the top..