Yesterday’s jobs report—145,000 new jobs—is only so-so, but there are two more interesting features of the labor market right now.
The first is that wages are rising fastest at the bottom end of the income scale, suggesting that sustained economic growth is better than redistribution or minimum wage mandates for lifting the prospects of low-skilled workers. Of course, the left is not interested in growth any more, as I’ve often argued here, and as Joel Kotkin points out again in a great article yesterday at Quillette : For much of the last seventy years, economic growth has lifted the quality […]
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