The present economy can best be described as one for superstars. This applies for every conceivable, often mutually-disparate field such as coding, money management, digital marketing through social media, acting or even sports with some people getting paid disproportionately better than majority of the rest. This is a very inefficient way to run teams, as every sports star knows he/she needs the full support of a team to be truly successful. There are however, signs of these trends dissipating as evidenced by latest business intelligence provided by Bloomberg. It says that the bottom quintile’s wage growth is now much better than it was back in 2007 before the economic slowdown. In fact, wages for the top twenty percent are reducing. On closer introspection, it appears the reason for this is that the top quintile is more affected by digitization and automation. At the bottom, the kind of work taken up much less disrupted by such technologies. In fact, job creation has been on a high for several years now with unemployment rates sliding down to record lows and job vacancies going the other way.

Source:https://www.strategy-business.com/blog/Whats-Going-on-with-Wages?gko=d3313

Uploaded Date:19 January 2018