If Economists Were Right, You Would Have a Raise by Now

Wages usually go up as jobless rates go down. But not if the decline is due to fewer people looking for jobs.

If the current trend continues, millions of working Americans could wait years to recover economically from the last recession and spend most of their adult lives in an economy in which low unemployment doesn't generate the wage growth needed to lift living standards.

Nationally, the U.S. unemployment rate dropped to 5.5 percent in February, the lowest in almost seven years, according to figures from the Labor Department. Accompanying that decline was only a 0.1 percent, or 3 cent, monthly rise in average hourly earnings .... http://www.bloomberg.com