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Rebound: Wages

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Posted at 10:06 PM, Jun 30, 2020
and last updated 2020-06-30 23:33:19-04

There's some good news and bad news for workers in this edition of The Rebound.

The bad news? Economists expect wages to remain stagnant, or in some cases decrease, over the next few years because of the tough economy.

The good news is that the cost of living is expected to remain close to where it is now.

Still, stagnant wages could further impact the economy.

"That has negative effect moving forward on a lot of industries relying on discretionary items, because you're still going to buy food - that's a necessity. But you're not going go on a vacation, you're not going to buy a new car," explained Jack Strauss, Chairman of Applied Economics at the University of Denver.

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