Peanuts and wagesThe U.S. economy added the largest number of jobs in 15 years in 2014, yet a surprising five-cent drop in average hourly earnings in December raises questions over whether a tightening labor market will ever translate into more money in the pockets of ordinary Americans. In theory, a tightening market should lead firms to hike wages to hold on to or attract workers. That relationship, however, has broken down in the recoveries from the past three U.S. recessions and has been especially pronounced in the tepid recovery from the 2007-2009 financial crisis, according to research from the Federal Reserve of San Francisco published this week. More