Will employers raise wages in improved economy?

Profits are up, so why aren't more workers seeing it reflected in their wages?

The latest on the economy from Business Insider:

The U.S. economy grew an impressive 3.9 percent last quarter and 4.6 percent in the previous period, and unemployment is the lowest it's been in six years. Yet wage growth has been paltry: average hourly earnings grew just 2.1 percent in November, barely above the October inflation rate of 1.7 percent--and significantly lower than pre-recession rates that regularly topped 3 percent. This doesn't bode well for the strength or duration of the recovery: consumers need to earn more if they're going to spend more.

In The New York Times, Neil Irwin wrote about the issue. Companies will have to upgrade their offers soon to get the best employees, he said:

During the recession, employers got spoiled. When unemployment was near 10 percent, talented workers were lined up outside their door. The workers they did have were terrified of losing their jobs. If you put out word that you had an opening, you could fill the job almost instantly. That's why the ratio of job openings to hires fell so low in 2009.

As the economy has gotten better the last five years, employers have had more and more job openings, but have been sorely reluctant to accept that it's not 2009 anymore in terms of what workers they can hire and at what wage... Eventually some employers will decide that they are leaving too much business on the table by not offering the pay and benefits and training that will fill their vacant openings.

Two guests join The Daily Circuit to explain the latest economic conditions and when employees might see improved wages.