David Salkever is a professor emeritus of public policy at the University of Maryland. He was a research associate at the National Bureau of Economic Research for 34 years.
If you thought workers’ hourly pay was finally rising, think again. At first glance, the latest data – which came out on Feb. 7 – look pretty good. They show nominal hourly earnings rose 3.1% in January from a year earlier. But the operative word here is nominal, which means not adjusted for changes in […]
