7 reasons why your salary might not be going up, even though the economy is doing great

The US economy is growing at its fastest pace in four years. Unemployment recently sank to an 18-year low. That's all led President Donald Trump to deem America as " target="_blank"the economic envy of the entire world."

But, you wouldn't know that by looking at your pay stub. Wage growth has been "sluggish," as Business Insider's Rich Feloni recently reported.

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Even our nation's top economists are baffled. Such low unemployment should mean that employers are kicking up pay in order to lure in workers. Yet, they're not.

There's no single reason for why wage growth has been dismal. Business Insider spoke to three economists to shed light on their theories on the conundrum: Jake Rosenfeld of the University of Washington in St. Louis, Economic Policy Institute senior economist Heidi Shierholz, and Brookings Institution senior fellow Jay Shambaugh.

Here's what they shared:

Productivity gains have been minimal

Productivity gains have been minimal BusinessInsider

Growth in productivity, which is the output we get from every hour of work, has been declining in the US, as well as across advanced economies globally.

Companies are increasing their spending on benefits

Companies are increasing their spending on benefits BusinessInsider

Wage and salary costs have grown 5.3% costs since 2001, adjusted for inflation, while benefit costs are up 22.5%.

Corporations are directing more of their money to shareholders and executives, not everyday workers

Corporations are directing more of their money to shareholders and executives, not everyday workers BusinessInsider

Tons of low-wage workers are finally re-entering the workforce

Tons of low-wage workers are finally re-entering the workforce BusinessInsider

But that doesn't explain why wage growth has been low in the long-run.

Unemployment isn't as low as we think it is

Unemployment isn't as low as we think it is BusinessInsider

Membership in unions has declined, which means fewer wage gains to those both in and out of unions

Membership in unions has declined, which means fewer wage gains to those both in and out of unions BusinessInsider

Non-managerial construction, transportation, and manufacturing workers were most likely to be unionized, said Rosenfeld.

Shareholders don't want companies to raise wages

Shareholders don't want companies to raise wages BusinessInsider

In summary, economists say workers have lost much of their power

In summary, economists say workers have lost much of their power BusinessInsider

7 reasons why your salary might not be going up, even though the economy is doing great

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