Economists Should Not Have Been Surprised by the December Drop In Wages

The Washington Post article on the December jobs numbers told readers:

"Though there were nascent signs of wage growth in November, the data from December showed average hourly earnings slid backward by five cents, to $24.57.

"That wage decrease over the past month, a surprise to economists, indicates that the nation has not yet reached 'full employment' — a condition in which demand from employers is broad enough that workers have a degree of leverage and a chance to see pay raises."

This co...