Surprising Growth: US Paychecks Outpace Expectations in Third Quarter
TL;DR
Wages and benefits paid to US workers grew at a faster pace than expected in the third quarter, indicating ongoing momentum in the job market. The 1.1% increase in the Employment Cost Index raises concerns about inflation and poses a potential challenge for the Federal Reserve.
- US paychecks grew faster than expected in the third quarter CNN
- Worker compensation posts 1%-plus increase for ninth quarter in a row, ECI shows MarketWatch
- US Employment Costs in 3Q 2023 Rose on Pickup in Wages Bloomberg
- US wages rose at a solid pace this summer, posing challenge for Fed's inflation fight The Washington Post
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