There are more jobs available now than there are workers looking for them, as the unemployment rate has dropped to nearly record lows across the country. Many businesses are complaining of worker shortages, stating that they would build and sell more if they could find the labor.
The last time the unemployment rate was this low occurred late in the Clinton presidency, when year-over-year wage growth was about 5 percent. It is currently between 2 to 3 percent. Wage growth, however, has not increased much for the past several years, even as the jobless rate has declined to historically low levels. CLICK HERE to learn more