SOROS: Wage Stagnation Is HELPING The U.S. Economy

Over the weekend, George Soros went on Fareed Zakaria’s CNN show GPS and laid out the factors that are helping pull the U.S. economy into a recovery. 

Among the factors he highlighted was wage stagnation.

How could wage stagnation, a negative long-term trend, be helping the American economy? It’s simple: by making the American labour force more globally competitive.

In years to come, a lack of real income growth is likely to remain problematic for many Americans, but Soros is right to point out how a much maligned trend may perversely play to our advantage in the short- to medium term.

Watch what Soros has to say here:

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.