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| Earnings are up 1.87% in the last year |
So says Jim O'Sullivan, here:
Jim O'Sullivan, chief U.S. economist of High Frequency Economics . . . is not convinced that part-time, low wage jobs are driving the nation's employment growth. Average hourly earnings most of this year have been rising about 2% at an annual rate, notwithstanding a slight dip in July. That's consistent with the rest of the four-year-old recovery. If low-wage jobs were growing much faster than other positions, they should be pulling down average wage growth, O'Sullivan says.
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Not only are earnings up modestly year over year, the not-seasonally-adjusted figures for usually full time workers show a year over year increase of 1.55 million jobs, or 1.34%. Usually part time is up more, 1.59%, but that's only a net 430,000 workers.
