But in a remarkable reversal, annual wage growth has been greater (as a percent) for the poor than for the rich in the last few years. A new report by the left-leaning Economic Policy Institute found that wages grew faster in 2016 for the poorest quintile than for the richest. The trend was particularly pronounced for white workers. The poorest 10 percent of white workers collectively saw a 5.1 percent raise in 2016, twice as faster as the 2 percent growth among the richest decile percent....
What up with that?
Lower unemployment rate nationally and adoption of a higher minimum wage in some areas.
Exactly what could be accomplished as matter of policy through institution of a job guarantee.
Without a job guarantee, increasing unemployment is felt most at the bottom and lower employment increases competition for scarce jobs, driving down wages.
The JG addresses both by guaranteeing a job for all who are willing and able to work at a compensation rate above the poverty rate.
