Alternatively, what we might be witnessing is just a slightly longer lag in the normal relationship between employment growth and wages. If this is the case, a pick-up in wage growth and inflation may not be too far away. Here, the United States is a test case of sorts given that its recovery is most advanced.
I would like to conclude by wishing you all an interesting and, above all, informative workshop. Thank you very much for your attention. 4/4  BIS central bankers' speeches