About that plummet: If there was any news item behind it, it was Friday’s employment report, which showed a significant although not huge rise in wages. Now, rising wages are a good thing. There’s also the growing willingness of workers to quit their jobs, something they don’t do unless they’re confident of finding new employment. And now wages are finally rising, suggesting that workers are gaining bargaining power, too. It has to come either from growth in the pool of potential workers or from rising productivity, that is, more output per worker.

Source: New York Times February 05, 2018 22:37 UTC