Another Way to Look at Pay
Wages may be rising faster than you think.
A person walks past the Marriner S. Eccles Federal Reserve building seen reflected in a puddle of water.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Over the past few years, the labor market has been an enigma. The jobless rate is low, but pay has risen slowly. One explanation: We’re measuring pay imperfectly. The Federal Reserve Bank of Atlanta’s Wage Growth Tracker suggests wages have risen more than the conventional measure says they have.