It's been a few years into the economic recovery from the Great Recession, and the employment picture has been rocky. Rather than a quick bounce back with strong employment and higher wages, this recovery has seen the unemployment rate trickle down to its current 5.4%. Meanwhile, the wages for the majority of workers have been stagnant, especially when considering the level of wages adjusted for inflation, or the real wage.
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Automation destroying intellectual jobs
Change in Consumer Price Index CPI
Conpensation for increase in output
Cost of collecting goods and services
Decrease in prices of goods services
GDP growth
Global Economic Recovery
Labour bargaining power
Lowering inflation targets
Nominal wage
Productivity growth
Real wage
Real wages versus productivity
Replacing low skilled
Unemployment Rate
With higher skilled jobs