Wage Inequality May Be Starting to Reverse
Inflation inflicted misery on pretty much all workers in 2022. Yet peek below the surface, and the year’s most consequential economic development may be what happened between different groups of workers.In the decades before the pandemic, the wages of lower-paid, less skilled hourly employees steadily lost ground to those of skilled workers, college graduates, managers and professionals. In the two years since, those trends have sharply reversed. We don’t know if this narrowing in inequality will last. Perhaps it is a…