PRODUCTIVITY IS WINDED AS WAGES FIND THEIR STRIDE

摘要

In recent years, the race between productivity and wages has been one-sided. Productivity has been leading by a mile, a result that has restrained unit labor costs all across Corporate America, keeping profits strong and prices down. Not any more. Amid the tightest labor markets in three decades and an unemployment rate that begins with a "3," wages are coming on as strongly as Fusaichi Pegasus down the homestretch at the Kentucky Derby. Investors and policymakers, who have bet heavily on productivity, can only watch nervously as the race goes neck and neck, just as productivity may be getting winded.