From WSJopinion: The tightening of the labor market—not minimum wage hikes—is the more likely cause of most workers’ pay gains, writes Lawrence Lindsey
There’s a great irony in the current battle over labor policy.
Demands are rising for a $15 minimum wage nationwide at exactly the moment when businesses have returned to granting the most robust raises in many years, with no government mandate necessary. According to the Bureau of Labor Statistics Usual Weekly Earnings survey, most workers’ wages rose a bit more than 10% from December 2016 through December 2019, and those in the bottom 10% got a raise of 15.6%.
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