The economy is booming on paper, but a hidden 'K-shaped' anomaly in the payroll data explains why 80% of workers feel poorer.
The headline number is a lie.The Bureau of Labor Statistics released the February wage data this week. It sits at a healthy, robust 3.8 percent. On paper, the American workforce is getting richer. In reality, the bottom 80 percent is taking a cold shower. The aggregate data is masking a severe internal rotation of capital.