Have you noticed a difference in your paycheck recently? Well, it turns out that U.S. workers are seeing their largest wage increase in a decade according to the Labor Department.
Wages rose 2.9 percent from September 2017 to September 2018, according to reports. Keeping in mind that many prices have risen significantly in the past year, especially for gas and rent, but even with those increases, workers’ wages grew 0.6 percent over the year, making the increase the largest since 2016.
The lack of pay growth has been one of the biggest problems workers have complained about but employers are finally having to hike wages as they compete to keep quality labor. Unemployment is at a 49-year low and there are more job openings than unemployed Americans, which forces companies to fight for available workers.
Source: CNBC