Surprising Wage Growth Poses Challenge for the Fed
TL;DR Summary
American workers continue to receive significant pay raises, which is positive for workers but could complicate the Federal Reserve's efforts to control inflation. The Labor Department's employment-cost index shows that employers spent 1.1% more on wages and benefits in the third quarter compared to the previous three months, indicating that compensation pressures have not eased despite economic growth.
- Workers Keep Getting Big Raises. That's an Issue for the Fed The Wall Street Journal
- US paychecks grew faster than expected in the third quarter CNN
- Employment Cost Index rises 1.1% in Q3, a bit more than expected Seeking Alpha
- US wages rose at a solid pace this summer, posing challenge for Fed's inflation fight AOL
- A Key Measure of Wages Grew at a Moderate Pace This Summer The New York Times
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