2014 on Track to Be Strongest for Jobs Since 1999

The video discusses the current state of job growth and wage trends, highlighting sustained job growth but stagnant wage increases. It explores the employment cost index as a broader measure of compensation and considers the potential lag in wage data. The video also addresses the decline in long-term unemployment, indicating a shrinking labor market slack. Despite job creation, the lack of significant wage growth remains a concern.

According to the text, what are the potential implications of wage growth on inflation?

What is the significance of the 2% wage growth mentioned in the text?