Ernie Tedeschi put up a version of a chart today I think I saw from Adam Ozimek about a year ago showing a linear relationship between 25-54 year-old employment population ratio (which I updated yesterday) and the employer cost index that's a measure of wage growth:
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Wage growth and tight labor markets
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Ernie Tedeschi put up a version of a chart today I think I saw from Adam Ozimek about a year ago showing a linear relationship between 25-54 year-old employment population ratio (which I updated yesterday) and the employer cost index that's a measure of wage growth: