By many metrics, the US economy is humming along. The jobs market is robust; consumers are spending again; and inflation has eased to a three-year low.
Everything in economics comes at its cycle. The economy improves, hiring picks up, and if jobs exceed workers by enough, eventually, wages go up. Even then, it takes a while for workers to feel confident.
Corporations generally will put more hiring and wage raises off as long as possible.
This cycle is not in sync through the country. Hot areas will have to respond faster. Cooler area may not respond at all. Red states are generally in cooler regions. Austerity does not promote growth.
Everything in economics comes at its cycle. The economy improves, hiring picks up, and if jobs exceed workers by enough, eventually, wages go up. Even then, it takes a while for workers to feel confident. Corporations generally will put more hiring and wage raises off as long as possible.
This cycle is not in sync through the country. Hot areas will have to respond faster. Cooler area may not respond at all. Red states are generally in cooler regions. Austerity does not promote growth.