I am getting my information from experience from people who are hiring in the bottom 3 income deciles or so.
Certainly not academic, but I also do not think national statistics captures the entire picture. The nominal wage is also not the entire wage, as quality of life at work can be going up which is also a type of wage.
People can be earning $40k per year, but having to do less work in prior years, for example. Or no longer having to work weekends or evenings or nights.
Either way, the desirable changes for labor sellers would be a reflection of the change in labor supply v labor demand.
Certainly not academic, but I also do not think national statistics captures the entire picture. The nominal wage is also not the entire wage, as quality of life at work can be going up which is also a type of wage.
People can be earning $40k per year, but having to do less work in prior years, for example. Or no longer having to work weekends or evenings or nights.
Either way, the desirable changes for labor sellers would be a reflection of the change in labor supply v labor demand.