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November 6, 2017

With jobless rate so low, why no raises?

  • Homebuilders say they would construct more homes if they could find more workers, but even the construction industry as a whole isn't raising pay much.
    AP Economics Writer

    WASHINGTON — With U.S. unemployment at a 17-year low and businesses complaining that they can't fill jobs, you might expect pay to be rising sharply as companies try to attract or keep workers.

    It's not. The October jobs report showed that pay gains remain sluggish, and the explanations include weak worker productivity and a still-low proportion of adults with jobs. These are long-running trends that still bedevil the economy despite its steady improvement.

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