More on the Economy Wage growth has been a missing ingredient in the expansion. It hovered for years below pre-recession levels but has been creeping higher since 2015, with the August reading marking a new high for the expansion. Many factors held wage growth down, including slack in the economy after the 2007-09 recession and increased competition in the U.S. from workers abroad. But as U.S. unemployment has declined, the supply of workers has diminished, giving individuals more leverage to demand and get better pay. “Everybody is battling for the very few skilled people out there,” like machinists and engineers, said Richard Huether, chief executive of Independent Can Co., base in Belcamp, Md. He said he has seen some employees resign without backup jobs, for instance to move back home, knowing they’ll find something where they want it. Good news for workers isn’t always good news for investors. The […]