Page 23 - The South China Business Journal
P. 23
Picture from U.S. Chamber of Commerce
been wrung out of the labor markets by Spring of 2018. growth will drive a slowdown in the overall growth of
In fact, the process will likely take a bit longer as the job the economy. This is where policies like comprehensive
growth numbers slide steadily. But we should not be tax reform can make a huge difference.
deceived into believing the declining job numbers are
cause for concern unless they corroborate other clear A second knock-on effect from the decline in jobs
signs of a slowing economy. growth will be an almost certain uptick in the growth
rate of wages and salaries as employers are forced to
The decline in the rate of job growth will have bid up compensation rates to compete for workers.
two knock on effects worth noting. The first is that Substantial real wage gains have been a long time in
if productivity growth doesn’t compensate with a coming, and their arrival will mark the last chapter in
comparable uptick, then the slowdown in employment the long recovery from the Great Global Recession.■
been wrung out of the labor markets by Spring of 2018. growth will drive a slowdown in the overall growth of
In fact, the process will likely take a bit longer as the job the economy. This is where policies like comprehensive
growth numbers slide steadily. But we should not be tax reform can make a huge difference.
deceived into believing the declining job numbers are
cause for concern unless they corroborate other clear A second knock-on effect from the decline in jobs
signs of a slowing economy. growth will be an almost certain uptick in the growth
rate of wages and salaries as employers are forced to
The decline in the rate of job growth will have bid up compensation rates to compete for workers.
two knock on effects worth noting. The first is that Substantial real wage gains have been a long time in
if productivity growth doesn’t compensate with a coming, and their arrival will mark the last chapter in
comparable uptick, then the slowdown in employment the long recovery from the Great Global Recession.■
