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Lower-Income Wages Surge Unexpectedly | Charleston News
Lower-income workers are finally catching up — wage growth hit a three-year high in June, closing the gap with higher earners. Bank of America’s data reveals a surprisingly strong labor market, with solid job growth and fewer people relying on unemployment. The boost? Likely due to job-switching (which often brings 12% pay jumps) and adjusted tax withholdings. While short-term events like the World Cup may help, the real story is a resilient labor market fueled by minimum wage hikes and rising demand for skilled workers — even if official numbers look weaker than expected. Listen in…
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