Wage growth may be disappointing, but workers are getting more expensive (DIA, SPX, SPY, QQQ, IWM)

Labor is simply getting more expensive.  In the last several months as economists have tried to judge how much "slack" remains in the labor market, the lack of wage growth has been pointed to as a sign that there is still a ways to go before we're at a "full employment" inflection point that would, among other things, prompt the Federal Reserve to raise interest rates.  Headline measures of wage growth like average hourly earnings and the employment cost index, for example, are still underwhel...