Cut Corporate Taxes to Boost Wages?
Today's jobs report showed that average hourly earnings rose 0.2 percent in November, boosting the 12-month increase in earnings to 4.1 percent–the highest level since 2001. And last month's earnings report showed that average weekly earnings are up a robust 3.2 percent during the past year, taking inflation into account. But these data points are probably going to do little to cool concern about stagnant wage growth. Overall, it's been flat since mid-2003–though if you drill down a bit, you find that the average hourly wages fell 3 percent from June 2005 to September 2005. Since then, they've made up that loss with a couple of cents to spare.
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