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New data show much faster growth in wages and incomes.
Wages and salary figures have been going up faster than previously estimated, with the year-over-year increase revised from 3.6% to 5.5%. Even after adjusting for inflation, that is 4.1%.
Overall personal income is up, transfer receipts (welfare) are down, and savings is up. Americans are relying less on the government and saving more of what they earn. Personal savings is 8.1%, not the 6.1% that had been estimated. Consumer spending is up despite the increase in savings. The fact that spending isn't accompanied by a household debt increase makes the economic expansion more durable.
The numbers for the first quarter of 2019 look particularly good for reducing income inequality. Corporate profits declined while wages grew at an annualized rate of 10.1%.
(Score: 0) by Anonymous Coward on Friday August 02 2019, @08:03PM
there's 'jobs' (placeholders that aren't filled so that h1b can be used) and then there are jobs that only pay what a newly minted college graduate would accept
the place that I work at changed their vacation policy so that new employees get an extra week of vacation to make the work-life-balance better they say - no additional vacation weeks were added for employees who have over 20 years of service
some older friends have tried changing jobs recently and didn't see the mythical IT employment environment that you decribed