Over at WaPo, re current economic conditions.
I mention the slowing of real, blue-collar wages in the piece as something that’s important in terms of a constraint on consumer spending (70% of GDP, fyi). Their hourly pay has been flat over the past year, same with their weekly earnings. Basically, in 2015, their nominal pay accelerated as the job market tightened while inflation went south, riding on energy-price declines.
Since then, it’s reversed: the pace of their nominal wage growth has trailed off a bit, while inflation has picked up.
Take note, Yellen and co.!