No Rise in Jobless Rate, but No Increase in Real Wages Either

All of them have translated into high levels of employment and an increase in real wages.

However, in the past, productivity growth has often been matched by rising real wages.

The strength of the labor market was underscored by an increase of real salaries by 3.5% by July.

And modern distribution theory showed how increased capital investment leads to an increase in real wages.

Reform in this area could include cuts in unproductive employment, coupled with a rise in real wages for the remaining productive employees.

Wages fell 2 percent in 1930 and deflation caused a slight increase in real wage rates, but employment in this industry actually rose 3 percent.

the share of output going to employees was restored to its pre-existing level in the long run due to an increase in real wages

It increased by 3.2% in 2018, and an increase in real wages, coupled with a further decline in unemployment, should help to maintain this momentum.

The second channel is higher real (or inflation-adjusted) wages.

Since 2001 Swisscom has awarded real salary increases of over 13 per cent.

Moreover, pension indexation is now more generous, taking into account 50 % of real-wage growth rather than the previous 33 % of real-wage growth.

However, we agree with Jasinowski that, in general, the demographic trends tend to support a "tighter" U.S. labor market, which would suggest a higher real wage.