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When will wage inflation start to spiral?
*The Wall Street Journal, by Greg Ip, September 18, 2006
“From 2001 to 2004, the productivity of American workers — the amount they produced for each hour on the job — rose enough so that companies could pay somewhat higher wages without raising prices. The new data changed that benign picture. They showed that business compensation per employee-hour soared almost 8% in the year through June. Adjusted for higher productivity, labor costs jumped 5%, a near six-year high.”
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