Of employee leverage (and hence wage growth)? I don't think so, because those employees who opt out aren't competing for jobs with those other employees. I'm no

Of employee leverage (and hence wage growth)? I don't think so, because those employees who opt out aren't competing for jobs with those other employees. I'm not an economist, though. It might be a better indicator of "how well is the economy serving the needs of the people", depending on what you value.