Wage growth refers to the increase in the amount of money workers earn over time. This can happen due to various factors, such as higher demand for labor, improved skills among workers, or inflation. When wages grow, employees can afford more goods and services, which can boost the economy. Wage growth is often measured as a percentage increase in average salaries or hourly pay. It can vary by industry, location, and job type. Policymakers and economists closely monitor wage growth as it can indicate the overall health of the economy and the standard of living for workers.