Wage growth still remains a problem, despite the steady gains. Median household incomes remain lower than what they were in 2007, before the start of the Great Recession.
Steady job growth should cause wages to rise, but such growth could be modest. That is because many unemployed Americans left or were forced out of the jobs market during the downturn. As those workers begin to return, it increases the supply of available employees and reduced pressure on employers to increase wages.
"Slowly, but surely wage growth will accelerate going forward," said Zandi, before cautioning that "it probably won't take off."