Today's jobs report also included wage data for blue-collar workers. Adjusted for inflation, weekly wages were up 0.9% from last year and down -0.5% from last month (at an annualized rate):
As usual, this can be interpreted as good news. If wages are under control it should reassure the Fed that inflation is moderate and interest rates can be eased. Maybe.
Good news? Are you nuts?
You are saying that it's better to have low interest rates than to have a good paying job.
But all in all, it's amazing that these workers are paid anything at all.
In 1979, the US ruling class normalized trade with China, and the trade agreements placed US factory workers (but not doctors) in direct competition with their Chinese counterparts. This was the start of huge income inequality in the US.
Since then, China has steadily exported its unemployment to other countries, but mainly to the US.
https://en.wikipedia.org/wiki/Poverty_in_China