Friday, December 23, 2011

Productivity and Real wages since 2007

A number of bloggers have recently discovered real wages as a labor market indicator. They are at least 3 years late to the party.

Three years ago I blogged about the effect of labor supply on real wages.

I noted how real wages had risen since 2007, and predicted that they would begin to decline in 2010.

I have continued to update this work, eg here, and here.

The fact is that the real wage time series fits my recession narrative very well.

3 comments:

TGGP said...

Noah Smith responds here.

TGGP said...

The economix post linked above was cross-posted to this blog here.

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