Wage Gains Pick Up as Fed Contemplates Next Rate Decision

Posted on AllSides April 28th, 2023
From The Center
ED JONES/AGENCE FRANCE-PRESSE/GETTY IMAGES

Wage growth stayed elevated to start the year and inflation remained high, likely keeping Federal Reserve policy makers on track to raise rates again next week.

Employers spent 1.2% more on wages and benefits in the first quarter from the prior three months, a slight uptick from an upwardly revised 1.1% increase in the fourth quarter, the Labor Department said Friday. The employment-cost index advanced 4.8% last quarter from a year earlier, an easing from the 5.1% gain at the end of last year.

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

https://www.wsj.com/articles/employment-cost-index-q1-2023-personal-consumption-expenditures-price-index-march2023-1d4a191

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right