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Unemployment in the U.S. Is Falling, So Why Isnt Pay Rising? - Bloomberg

The U.S. economy is behaving mysteriously. Usually wage growth accelerates when the job market is tight: Employers have to pay more to attract and retain workers. But even though the unemployment rate hit a decade low of 4.4 percent in April, average hourly earnings of all private non-farm workers grew just 2.5 percent over the past year—compared with an annual rate of more than 4 percent the last time the jobless rate was this low.