Better late than never, but is it really news that most workers have benefitted little from the country's growth over the last quarter? Apparently, that is what a joint study by the Brookings Institute, Heritage Foundation, Urban Institute and American Enterprise Institute uncovered with funding from the Pew Charitable Trusts. Of course, my former employer, the Economic Policy Instiitute, had been documenting this fact for the last decade and a half in the semi-annual State of Working America.
This distinguished group could get the relationship between productivity growth and wage growth down a bit better if they made a point of adjusting for differences in deflators and using measures of compensation instead of wages.
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