CNBC is noticing the upward wage pressure is focused heavily on the middle-class workers and lower end of the labor market; another KPI (Key Performance Indicator) the economy is stronger than most financial pundits are admitting:
CNBC – The recent jump in paychecks has come with an unusual characteristic, as workers at the lower end of the pay scale are getting the greater benefit.
Average hourly earnings rose 3.4 percent in February from the same period a year ago, according to a Bureau of Labor Statistics report last week. That’s the biggest gain since April 2009 and seventh month in a row that compensation has been 3 percent or better.
Over the 12 months ending in January, hires totaled 69.2 million and separations totaled 66.3 million, yielding a net employment gain of 2.8 million. These totals include workers who may have been hired and separated more than once during the year. (link)