Lower-wage earners gain ground as wage gap narrows

Bank of America data show lower-income wages rising faster than higher-income wages (about 4.7% vs. 3.5%), even as overall payroll growth cools to roughly 1.5%. The once-persistent K-shaped wage gap appears to be narrowing as more lower-paid workers switch jobs and see raises; some officials, noting these shifts, have suggested the K-shaped economy may be ending in favor of a trend where lower earners claw back ground.