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Wage Growth Is Holding Up in Aftermath of the Economic Crash



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That came as a surprise to economists.Earnings growth typically slows sharply when unemployment is high, which it has been for the past 14 months. Many economists thought that would happen this time around, too. Instead, paychecks seem to have been resilient to the enormous shock brought on by the pandemic: Wage growth wiggled or fell early on, but has been gradually climbing for months now.“It’s not necessarily going gangbusters, but it’s just higher than you would think” when so many Americans are out of work, said John Robertson, an economist who runs the Federal Reserve Bank of …

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