Tepid Job Growth in May Could Lead to Wage Inflation

Higher wages may be good for workers, but they will add to the inflation problem.

The Bureau of Labor Statistics reported that 559,000 jobs were added in May. Considering there are about 8 million job openings and that 7.5 million workers are unemployed as a result of the COVID-19 shutdowns, the number should have been much higher. To bring more workers back, companies are…