Posts by Rick Newman

  • You may not be getting a raise, but these workers are

    Rick Newman at Yahoo Finance4 days ago

    The middle class is struggling to get ahead, largely because incomes are stagnant. Many workers can’t get a meaningful raise, others earn less than they used to and too many people are still unemployed, earning nothing.

    But some employees are getting handsome raises, and they’re not just CEOs and Silicon Valley developers. New data published by Moody’s Analytics shows that workers in a large subset of the labor force earned 4.5% more in the third quarter than they did a year earlier. That’s more than twice the average increase in wages tracked by the government. It’s also more than twice the rate of inflation, which means these workers, at least, are getting ahead.

    Moody’s analyzed data provided by payroll processor ADP, covering 24 million employees—roughly one-fifth of all U.S. workers. “There are some signs of wage growth beginning to pick up,” Mark Zandi, chief economist at Moody’s Analytics, said in the video above. “People are starting to see pay increases that are above the rate of inflation, and the pay increases are accelerating.

    Here’s a breakdown of wage gains by select characteristics:

    Read More