Gary Shilling, Columnist

Six Things Central Banks Don't Get About Wages, Part 2

Low-paying jobs are on the rise, union membership is down and productivity has fallen.

August 1, 2017 at 9:30 AM UTC

Gary Shilling is president of A. Gary Shilling & Co., a consultancy. He is author of “The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation.”

The problem with wages.
Photographer: Tim Boyle/Getty Images

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

On Monday, I examined three significant economic changes that have contributed to wage stagnation in recent years: globalization, ample global supplies of employable people and machines, and surplus U.S. labor. Here are three more.

4. The shift to lower-paid jobs.