Oh no! Demand for labor might be increasing!

“The slowdown in productivity growth is now making it much harder for firms to achieve double-digit rates of earnings growth,” said Erik Johnson, U.S. economist at IHS Global Insight. As a result, he expects the profit share of gross domestic product has likely peaked.

Eric Green, chief rate strategist at TD Securities, says the margin compression will put “more emphasis on top-line revenue growth to justify market valuations.”

The danger, he adds, is that higher unit labor costs driven by higher real compensation could slow future job gains.

“Employers [will] squeeze more out of the existing labor pool as they scramble to maintain profit margins in a growth environment that remains okay, but far from robust,” he warns.

So . . . anything less than employers making out like bandits is a "danger"? No correction to the trend will be accepted?

An alternative translation: "Sorry workers, we just didn't need 10-20% of you for the last couple years, so we couldn't help but pay you less relative to revenues. And don't even think about making up some up the difference now that we want to hire more of you again."