According to the Bureau of Labor Statistics, wages fell over the last year for ordinary, non-management workers. This is further evidence that companies are managing to avoid paying amid one of the tightest labor markets in decades.
Questions:
1. What was the fall in wages from June 2017 to June 2018?
2. In two sentences, explain why this might be happening.
3. According to the article, the U.S. has a monopsony problem. What does this mean? Research this term.
Source:
LeVine, S. (2018). 1 big thing: America’s wage crisis.