Even with the unemployment rate at the lowest level seen in recent years, working families have not experienced any wage increases. The presence of more slack in the market has resulted in a workers possessing less bargaining power to negotiate wages with employers. Even though wages haven?t changed, company?s profits continue to rise.
See "Full Unemployment: The Recovery?s Missing Ingredient", Jared Bernstein and Dean Baker, The Washington Post, November 2, 2014