Topic: Gad Levanon
Pay raises are getting smaller, but consumer prices continue to rise. If the trend in shrinking worker pay raises continues, it could mean stalled consumer spending and a halt to economic growth.
One month doesn't make a trend, but recent gains in job growth were broad-based across the economy. GDP forecasts have edged up, too. This bodes well for a jobs recovery that’s better than what followed the 2001 recession.
Although the job market seems to be looking slightly better, an actual increase in jobs may not show up until around the end of the year.