Posted: Friday, July 31, 2015 10:35 AM ET
By: Julian Close
In the second quarter of 2015, wages of US workers rose by 0.2%, the smallest quarterly rise in more than three decades. The new report from the department of labor seems to contradict the long held view that low unemployment necessarily leads to wage growth, though it isn’t clear what might cause (or have caused) the two metrics to decouple. Adding to the worry this morning, the average P/E of S&P 500 stocks is now 21.26.
Still the stock market is rising, so perhaps those who are hurting because they aren’t being paid enough... Read More