A simple explanation for high employment growth and low wage growth
All the new jobs are bottom-of-the-barrel low wage employment
The biggest employment increase during the past year came in temporary business services, up 5% year over year. Temporary business service jobs pay on average about $36,000 a year, at the bottom of the pay scale.
Businesses are reluctant to hire full-time employees (and pay benefits) so they hire cheap substitutes. No wonder that productivity growth and wage growth both remain abysmally low, and economic growth is stumbling along at 2%.