Paul Davidson USA TODAY Published 5:01 AM EDT Jun 4, 2019 Blue Label Labs, which helps companies develop and market technology products, ratcheted up pay raises last year as it struggled to attract and retain employees. That’s the good news. The downside is that the salary increases hurt profits, forcing the New York City-based company to lay off several employees, among other strategies. “It has created some stress and anxiety,” says Jordan Gurrieri, co-founder and chief operating officer of Blue Label, which has about 22 staff members. It also has about 40 contract employees. The strong U.S. economy and 3.6% unemployment rate – a 50-year low – have spurred worker shortages that finally have triggered faster wage growth. Americans are spending those bigger paychecks, further bolstering the economy, or socking away some of the cash for retirement. Yet pay increases are accelerating just as business revenue growth is slowing. As a … [Read more...] about Jobs: Will higher pay for workers hurt profit margins, economy?