The only period of high pressure in the labor market since 1979 led to rapid wage gains: Average annual wage growth from 1996–2001 vs. all other years between 1979 and 2017
| Wage percentile | All other post-1979 years | 1996–2001 |
|---|---|---|
| 20th | -0.15% | 1.75% |
| Median | -0.02% | 1.66% |
| 95th | 1.01% | 1.96% |
Note: Wage growth is inflation-adjusted.
Source: Authors’ calculations from data obtained from the State of Working America Data Library from the Economic Policy Institute (EPI 2018)