The Fed can look to the late 1990s for guidance on how to raise wages: Average annual wage growth from 1996–2001 vs. all other years between 1979 and 2017
|Wage percentile||Avg. annual wage growth|
View the underlying data on epi.org.
Source: Adapted from Figure C in Josh Bivens and Ben Zipperer, The Importance of Locking in Full Employment for the Long Haul, Economic Policy Institute, July 2018. Wage growth is inflation-adjusted.