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Economic Commentary

What's Happening to Labor Compensation?

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Despite recent low unemployment rates and high capacity-utilization levels, wages have remained stable. This stability is not a result of new wage rigidity. Wages have undergone a fundamental shift toward flexibility because of changes in the industrial composition of employment and in the structure of compensation.

05.15.1988EC 5/15/1988

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Groshen, Erica. 1988. “What's Happening to Labor Compensation?” Federal Reserve Bank of Cleveland, Economic Commentary 5/15/1988.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International