Are wages rising, falling, or stagnating?
“The honest but boring answer to the question of what is
happening to wages is: It depends. Specifically, it depends on how you measure
it. As so often, methodology really, really, really matters. In the case of
wage growth, four analytical decisions bear heavily on the results: which time
period, which deflator, which workers (by gender), and which workers (in terms
of position).”