There may be good economic news out there that the Obama administration is not trumpeting, because the Federal Reserve Board hasn't discovered an apparent uptick in wages that could signal the "slack" in the U.S. economy has been about all picked up.
This contrary view of the economic rebound was presented by Principal Financial Group, which gathered data from its own clients — mostly small-to-mid-sized companies. What it found was that the average wage growth of its survey group jumped from 1 percent to 3 percent in the 2013-2014 period. The Fed had pegged growth during that time at less than 2 percent.
It's all about interest rates, of course, which the Fed has been holding down for years, unwilling to declare that the economy has improved sufficiently to raise rates.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
