Mark Vitner Wage Quotations

We've had very little economic growth, virtually no job growth. The only way you'll get income growth is through wage increases or through tax cuts.

The recent weakness in wage and salary growth is bad news for retailers, since wages and salaries, which account for more than 56 percent of personal income, tend to influence spending decisions far more than other income sources.

Normally, economists downplay periodic swings in energy prices. However, the most recent run-up is a source of concern because it may be raising inflation expectations. Workers do not live in a world that excludes food and energy prices. Wage demands, especially in the current tight labor market, will be based on the increase in the overall CPI.

Normally, economists downplay periodic swings in energy prices, ... However, the most recent run-up is a source of concern because it may be raising inflation expectations. Workers do not live in a world that excludes food and energy prices. Wage demands, especially in the current tight labor market, will be based on the increase in the overall CPI.

If you wait for the wage increases to show up in the report, they're behind the curve.