Originally published at TheWashingtonPost.com
Federal Reserve Bank of New York economist Gizem Kosar may not have cracked the Case of the Missing Wage Growth yet, but she has found a promising lead.
In the July release of labor market data from the bank’s Survey of Consumer Expectations, Kosar and analyst Kyle Smith noticed something surprising: Workers without a bachelor’s degree are switching jobs at the highest rate since the thrice-yearly survey began in 2014, but their salaries have fallen slightly in the past year.
