Nov
16

Slowing Salaries

In a sign of perhaps peaking inflation, annual wage growth declined from 4.2% to 4.1% in October, the first decline since 4/21, immediately prior to the recent dramatic run-up in inflation. Moreover, the decline was widespread, extending to hourly workers, service workers, and most critically those that switched jobs, the primary driver of recent wage inflation. Their annual wage growth declined to 5.1% from a peak of 5.4% in September.

Share This Post
Facebook Twitter Email

Speak Your Mind

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.