Here's a simple theory that explains America's lack of wage growth

We've been seeing signs that wage growth is on the horizon for quite some time. For example, small businesses have reported planning to increase compensation and have cited "labor quality" as one of their biggest concerns. Moreover, the ratio of unemployed job seekers to job openings is at 2006 levels, indicating that the labor market is really tight. However, we have yet to actually see any serious wage growth. Even the latest jobs report, which showed that overall the US economy is on fire, showed disappointing.......