That could be significant, as much of the surge in wage growth a year ago may have been driven by outsized wage gains of those changing jobs and by employers raising wages to retain existing workers. Supply The wage moderation may partly reflect some improvement in labor supply.
Some people feel that we should turn time back thirty or forty years, but I prefer to move forward.”  BIS central bankers’ speeches  5  Do you understand that people see the euro as the cause of the crisis, and of unemployment?