Low wage workers are seeing huge gains in their paychecks according to Goldman Sachs. The bank found that low wage worker pay rose 5.3% during their second quarter and while the third quarter data is incomplete the preliminary reading looks to be a 6% increase. In some industries, like leisure and hospitality, the increases are even larger ranging from 13% to 22%. These gains could be attributed to the rising demand for low wage workers. Goldman Sachs warns though that these wage indicators cannot be taken at face value as they are distorted by the pandemic and that if they continue to rise, they could contribute to boosting inflation.
See "Low wage workers see large pay raises", Moira Ritter, CNN, October 1, 2021