It’s the witching hour for state’s $40b budget
Boston Globe - 04/28/2017
It’s particularly vexing here because we’ve enjoyed a low unemployment rate — under 5 percent for close to two years — yet wages have not risen significantly.
The low unemployment rate “makes a statement about how easy it is to get a job, but not what Mike Dukakis would say is a good job at good wages,” said Alan Clayton-Matthews, an economics professor at Northeastern University, referring to the former governor’s famous presidential campaign slogan.
Clayton-Matthews wonders if structural changes in the labor market are underway, the kind economists have been warning about.