Why U.S. Workers Aren't Seeing the Wage Gains They'd Like

The video discusses the importance of using the right metrics to analyze wage growth and labor slack. It emphasizes the employment cost index for accurate wage growth analysis and suggests using the employment to population ratio for a broader view of labor slack. The video critiques the Federal Reserve's reliance on U3 for assessing full employment, highlighting the need for a mix of metrics to understand labor market dynamics.

What does the gradual acceleration of wage growth indicate about the labor market?

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Why might individuals not actively seeking work still be relevant in discussions about the labor market?

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