Jobs Have Recovered, But Wages Aren't Growing

Let’s get the good news out there first: Yes, the U.S. has finally, after four years of recovery, exceeded its pre-recession jobs peak of 138.4 million new jobs. There are now more jobs out there in the economy than ever before, though it’s worth saying there are also a lot more people in the labor market than there were back then, even given the historically low workforce participation rate of 62.8 percent (the lowest since 1979).

The big question is “who are those jobs for?”