U.S. Wage Growth Has Stagnated, Goldman Sachs Says
Goldman Sachs looked into recent wage deceleration.

Although there has been a drop in the unemployment rate in the U.S., wage growth has stagnated in recent months, Goldman Sachs (GS) said. The banking giant investigated the weakness in wage growth across the income distribution, based on granular hourly earnings data from the establishment survey.

Goldman's results suggest that recent wage declines has been concentrated at the high end.

"We find that hourly earnings growth has slowed significantly among both the top 20% and top 5% of sub-industry groups, whereas growth in the bottom-half of the income distribution is relatively high and appears to be accelerating," the firm said.

Watch More with TheStreet:

More from Stocks

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever