The tight labor market and greater confidence in the economy in Minnesota are resulting in wage growth, an indicator that had stubbornly stayed neutral in the recovery until now.
“Yes there is wage inflation and some pressures related to that. We are seeing that in Minnesota,” said John Way, chief financial officer of Proto Labs. “You won’t see it in our numbers for 2016. But for 2017, we are starting to see the effects of it and putting increases in place to make sure we are market competitive.”