USA TODAY: Young low- and middle-wage workers are seeing their earnings rise more rapidly than their older, higher-paid counterparts, reversing the trend that prevailed early in the economic recovery.
The shift could boost economic growth since lower-paid workers tend to spend most of their paychecks, spreading the benefits throughout the economy. It’s also lifting the fortunes of restaurant and retail employees whose stagnant wages have sparked protests across the USA.
In the third quarter, average hourly pay for workers earning less than $20,000 a year jumped 5.4% vs. the year-ago period, according to top payroll processor ADP. Those earning $20,000 to $50,000 got wage hikes of 4.9%x.. (more)
