214,000 more jobs are great. But where are the raises?

Friday's jobs report showed the unemployment rate fell to 5.8 percent, a six-year low. Wages, however, went up a meager 3 cents per hour.
 
Bloomberg Businessweek reports that low wages can keep down inflation, which is good for the Federal Reserve's monetary policy, but are obviously bad for workers and for companies who can't sell goods to people who can't afford to buy. Economists interviewed said the labor market needs to tighten before wages increase, and predict that the unemployment rate is on track to fall to 4.7 percent by the end of 2015.
 
Some companies aren't waiting for the unemployment rate to fall further, according to the report, and have already given workers pay increases in order to attract and retain the best staff.

Read more from Bloomberg Businessweek.