Employment costs rose in the fourth quarter at a lower-than-expected pace, according to new data from the Bureau of Labor Statistics (BLS). In the three months ended in December, the Employment Cost Index (ECI) advanced 1 percent, slightly lower than economists’ expectations of 1.1 percent. This is down from the 1.2 percent increase in the…
US Employment Costs Slow to Finish 2022, Inflation-Adjusted Wages Still Negative
US Labor Costs Rose in 2021 at Fastest Pace In 20 Years, Adding to Signs of Sticky Inflation
The cost of hiring new employees and retaining existing ones rose in 2021 at its fastest pace in 20 years, according to new Labor Department figures, which provide a fresh data point on the inflationary pressures that have gripped the U.S. economy and sent the Fed scrambling to dial back its loose monetary settings. The…
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