Oct 28, 2019

Pay raises slow in weakening economy

Axios

People attend a job fair in Miami, Fla., in April 2019. Photo: Joe Raedle/Getty Images

Just one-fifth of the economists surveyed by the National Association for Business Economics said their companies have hired additional workers in the past three months, AP's Christopher Rugaber reports.

Why it matters: That is down from one-third in July. A broad measure of job gains also fell to its lowest level since October 2012.

  • Just one-third of economists said their firms had lifted pay in the past three months, down from more than half a year ago.

The big picture: Perhaps because of concerns over a weakening economy, businesses are less likely to offer higher pay, even with unemployment at a 50-year low.

Go deeper: Wage growth and job gains may have peaked

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Kim Hart

Where low-wage workers are being left behind

Adapted from Brookings; Map: Axios Visuals 

Today's low-wage workers are concentrated in southern and western states and are often locked out of moving up economically because they can't afford to live in cities that offer better-paying jobs.

Why it matters: Low-wage and entry-level workers are more likely to be negatively affected by automation in the workforce and less equipped to weather an economic downturn, research suggests.

Go deeperArrowNov 13, 2019
Courtenay Brown

October jobs report surprises with 128,000 jobs added

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 128,000 jobs in October — more than the 75,000 economists expected — while the unemployment rate ticked higher to 3.6%, the government said on Friday.

Why it matters: The strong numbers come despite job growth held down by the 40-day United Auto Workers strike against General Motors, which has since ended.

Go deeperArrowNov 1, 2019
Stef W. Kight, Dion Rabouin

Job loss predictions over rising minimum wages haven't come true

Illustration: Sarah Grillo/Axios

Eighteen states rang in 2019 with minimum wage increases — some that will ultimately rise as high as $15 an hour — and so far, opponents' dire predictions of job losses have not come true.

What it means: The data paint a clear picture: Higher minimum wage requirements haven't reduced hiring in low-wage industries or overall.

Go deeperArrowNov 25, 2019