Will wages outpace inflation for long? It depends on the job
1 year, 10 months ago

Will wages outpace inflation for long? It depends on the job

CNN  

Washington, DC CNN — Wages are now finally beating inflation, according to the latest quarterly data on wage growth. Workers who switched jobs are still raking in higher wages than those who choose to stay; and employees in industries struggling to hire, such as leisure and hospitality, are also enjoying fatter paychecks, economists said. “The folks who left one company and went to another are the ones who are still benefiting from wage growth,” said Morgan Llewellyn, chief data scientist at Jobvite. “And even if employers want to get back to normal and control wage growth, they just don’t have much choice but to raise wages to increase recruitment and retention.” Constrained labor supply might be a reason why employers are still having such a hard time hiring. “Wage growth has still been higher for job changers than job stayers and that suggests that there’s still a shortage of labor for some companies,” said Dawn Fay, operational president at staffing firm Robert Half.

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History of this topic

Wages growth outstrips inflation rate as unemployment rate remains steady
1 month, 1 week ago

Wages growth outstrips inflation rate as unemployment rate remains steady

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK earnings growth accelerated for …

Wage growth could still push inflation up, says BoE policymaker
7 months, 2 weeks ago

Wage growth could still push inflation up, says BoE policymaker

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Catherine Mann, a rate setter …

Paychecks grew more slowly this spring, a sign inflation may keep cooling
8 months ago

Paychecks grew more slowly this spring, a sign inflation may keep cooling

Associated Press  

WASHINGTON — Pay and benefits for America’s workers grew more slowly in the April-June quarter than in the first three months of the year, a trend that could keep price pressures in check and encourage the inflation-fighters at the Federal Reserve. Compensation as measured by the government’s Employment Cost Index rose 0.9% in the second quarter, down from a 1.2% …

Wage growth falls back further but continues to outstrip inflation
8 months, 1 week ago

Wage growth falls back further but continues to outstrip inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Office for National Statistics said average regular earnings …

Wages are rising 3.2% above inflation - the highest in nearly three years - as prices subside and jobs market holds steady... despite Rachel Reeves' grim claims that the economy is worse than she thou
8 months, 1 week ago

Wages are rising 3.2% above inflation - the highest in nearly three years - as prices subside and jobs market holds steady... despite Rachel Reeves' grim claims that the economy is worse than she thou

Daily Mail  

Wages are rising 3.2 per cent above inflation with the jobs market holding steady, according to new figures today. Regular pay is increasing at the fastest pace in nearly three years relative to prices, after CPI inflation returned to the Bank of England's 2 per cent target. Wages are rising 3.2 per cent above inflation with the jobs market holding …

US employers add a surprisingly strong 275,000 jobs in sign of continued economic strength
1 year ago

US employers add a surprisingly strong 275,000 jobs in sign of continued economic strength

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy America’s employers delivered another healthy …

What’s pushing inflation down? More goods, workers and housing
1 year, 4 months ago

What’s pushing inflation down? More goods, workers and housing

Associated Press  

WASHINGTON — Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rate hikes by the Federal Reserve. Overall inflation didn’t rise from September to October, the first time that consumer prices collectively haven’t budged from one month to another in more than a year. …

US wages rose at a solid pace this summer, posing challenge for Fed’s inflation fight
1 year, 5 months ago

US wages rose at a solid pace this summer, posing challenge for Fed’s inflation fight

Associated Press  

WASHINGTON — Wages and benefits grew at a slightly faster pace in the July-September quarter than the previous three months, a benefit for workers but a trend that also represents a risk to the Federal Reserve’s fight against inflation. Wages and salaries for private sector workers, excluding those who receive bonuses and other incentive pay, rose 0.9% in the third …

Hiltzik: The vanishing of wage inflation
1 year, 9 months ago

Hiltzik: The vanishing of wage inflation

LA Times  

Fed Chairman Jerome H. Powell has been fixated on pushing unemployment higher, even though it has no effect on inflation. some softening of labor market conditions,” Powell said in his most recent news conference, following the Fed’s latest interest rate hike on May 3. Powell treated every statistic showing labor market strength — low unemployment, “excess demand” for workers, persistent …

Inflation stayed high last month, compounding the challenges facing the U.S. economy
1 year, 10 months ago

Inflation stayed high last month, compounding the challenges facing the U.S. economy

NPR  

Inflation stayed high last month, compounding the challenges facing the U.S. economy Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images Inflation remained stubbornly high last month after more than a year of rising interest rates. "My feeling is that there's a gradual slowdown here, but March seemed a little too good to be true," said Omair Sharif, …

Are inflation pressures easing? Jobs report may offer clues
1 year, 11 months ago

Are inflation pressures easing? Jobs report may offer clues

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The economic data seem to show the economy slowing …

An unexpected job surge confounds the Fed’s economic models
2 years, 1 month ago

An unexpected job surge confounds the Fed’s economic models

Associated Press  

WASHINGTON — Does the Federal Reserve have it wrong? “Like $20 bills on the sidewalk and free lunches, falling inflation paired with falling unemployment is the stuff of economics fiction.” In economic models used by the Fed and most mainstream economists, a job market with strong hiring and a low unemployment rate typically fuels higher inflation. Chair Jerome Powell has …

U.S. Adds A Surprisingly Strong 517,000 Jobs Despite Fed Hikes
2 years, 1 month ago

U.S. Adds A Surprisingly Strong 517,000 Jobs Despite Fed Hikes

Huff Post  

WASHINGTON — America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. Friday’s government report added to the picture of a resilient labor market, with low unemployment, relatively few layoffs and many job openings even as most economists …

U.S. adds a surprisingly strong 517,000 jobs despite Fed hikes
2 years, 1 month ago

U.S. adds a surprisingly strong 517,000 jobs despite Fed hikes

LA Times  

A hiring sign is displayed at a restaurant in Rolling Meadows, Ill., on Monday. America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. America’s employers added a sizzling 517,000 jobs in January, a surprisingly strong gain in …

Wages rose by an average 3.2% last year, inflation was 10%
2 years, 2 months ago

Wages rose by an average 3.2% last year, inflation was 10%

Dutch News  

Wages rose by an average of 3.2% last year, with the biggest increase – more than 5% – agreed for teachers, national statistics office CBS said on Thursday. Inflation averaged at around 10% last year and the difference between it and the average wage rise is the biggest recorded by the CBS since it started publishing average salary increases in …

Wages rose by an average 3.2% last year, inflation was 10%
2 years, 2 months ago

Wages rose by an average 3.2% last year, inflation was 10%

Dutch News  

Wages rose by an average of 3.2% last year, with the biggest increase – more than 5% – agreed for teachers, national statistics office CBS said on Thursday. Inflation averaged at around 10% last year and the difference between it and the average wage rise is the biggest recorded by the CBS since it started publishing average salary increases in …

U.S. employers keep hiring at solid pace, adding 261,000 jobs
2 years, 4 months ago

U.S. employers keep hiring at solid pace, adding 261,000 jobs

LA Times  

A job seeker meets with a recruiter during the Healthcare Academy career and training fair outside of the Chase Center in San Francisco on June 3. America’s employers kept hiring briskly in October, adding a substantial 261,000 positions, a sign that as election day nears, the economy remains a picture of solid job growth and painful inflation. A strong job …

Inflation means your wages are worth less. Will they rise to catch up?
2 years, 5 months ago

Inflation means your wages are worth less. Will they rise to catch up?

ABC  

At a seaside restaurant in Sydney, Joe Natale can't get staff – and can't pay them more than the wages he's already raised. Key points: Most wages aren't rising as quickly as inflation, so there's a cut in 'real wages' for workers Wage data is out next month, but some indicators say it is rising Employers are struggling to pay …

Lower US job gain in August could aid Fed’s inflation fight
2 years, 6 months ago

Lower US job gain in August could aid Fed’s inflation fight

Associated Press  

WASHINGTON — America’s employers added a healthy number of jobs last month, yet slowed their hiring enough to potentially help the Federal Reserve in its fight to reduce raging inflation. “It’s a very positive report and still holds open the possibility for a soft landing,” said Ellen Gaske, an economist at PGIM Fixed Income, referring to the Fed’s goal of …

Wages still increasing, but well below inflation
2 years, 7 months ago

Wages still increasing, but well below inflation

NL Times  

The wage increases employers and trade unions set down in collective labor agreements were again relatively high last month. According to figures from AWVN, the most important advisor to Dutch employers in employment conditions, unions and employers concluded 18 collective labor agreements in July. Due to several late notifications of collective labor agreements, the AWVN adjusted June’s monthly average upward. …

US job growth surges, cooling recession fears
2 years, 7 months ago

US job growth surges, cooling recession fears

Al Jazeera  

The United States unemployment rate is at a 50-year low of 3.5 percent, data showed on Friday. US employers added more than double the number of jobs forecast, illustrating rock-solid labor demand that tempers recession fears and suggests the Federal Reserve will press on with steep interest-rate hikes to thwart inflation. Nonfarm payrolls jumped 528,000 in July, a broad advance …

The economy is slowing, and real wages keep falling: Can Labor turn this around?
2 years, 8 months ago

The economy is slowing, and real wages keep falling: Can Labor turn this around?

ABC  

It was a simple problem, on its face. He said the decision by the Fair Work Commission to increase the minimum wage by 5.2 per cent would help a little, and Labor was pushing for higher wages in the care economy. It's why the business community, and the union movement, have already responded to Dr Chalmers' speech by pointing ahead …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 11 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

Associated Press  

WASHINGTON — Another month, another four-decade high for inflation. Back in December 2020, the Fed’s policymakers had forecast that consumer inflation would stay below their 2% annual target and end 2021 at around 1.8%. For months, Fed Chair Jerome Powell and some others characterized higher consumer prices as merely “transitory” — the result, mainly, of shipping delays and temporary shortages …

EXPLAINER: Why US inflation is so high, and when it may ease
2 years, 11 months ago

EXPLAINER: Why US inflation is so high, and when it may ease

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Back in December 2020, the Fed’s policymakers had forecast …

Wages growth is starting to pick up, but workers like Linda feel left behind as living costs rise faster
3 years, 1 month ago

Wages growth is starting to pick up, but workers like Linda feel left behind as living costs rise faster

ABC  

The official measure of base pay rates shows they are growing at their fastest pace since the pandemic started, but wages growth varies wildly by industry and occupation and average pay increases are still trailing the rising cost of living. Key points: ABS figures show base pay rose 0.7 per cent in the December quarter and 2.3 per cent over …

What Might Happen Next With Inflation (It’s Not Pretty)
3 years, 1 month ago

What Might Happen Next With Inflation (It’s Not Pretty)

Huff Post  

LOADING ERROR LOADING WASHINGTON – Inflation has become a top political problem in Washington, damaging President Joe Biden’s standing with voters and grinding his domestic policy agenda to a halt. “It’s beyond time for the Federal Reserve to tackle this issue head on, and Congress and the administration must proceed with caution before adding more fuel to an economy already …

Will rising wages push inflation even higher?
3 years, 2 months ago

Will rising wages push inflation even higher?

NPR  

Will rising wages push inflation even higher? SCOTT HORSLEY, BYLINE: The Labor Department said today that if you count both wages and benefits, employers were paying 4% more for workers in December than they were a year ago. Those wage gains and better benefits are good for workers, but the Federal Reserve has been on the lookout for any warning …

US economists see higher wages feeding inflation for 3 years
3 years, 3 months ago

US economists see higher wages feeding inflation for 3 years

Al Jazeera  

A new survey shows nearly three-quarters of US economists don’t see inflation falling to the Fed’s target 2-percent rate until the second half of 2023 or later. Nearly three quarters – 71 percent – of the 48 economists surveyed see the Federal Reserve’s preferred inflation gauge – Personal Consumption Expenditures minus food and energy – not falling to or below …

US wages jump by the most in records dating back 20 years
3 years, 5 months ago

US wages jump by the most in records dating back 20 years

Associated Press  

WASHINGTON — Wages jumped in the three months ending in September by the most on records dating back 20 years, a stark illustration of the growing ability of workers to demand higher pay from companies that are desperate to fill a near-record number of available jobs. Workers have gained the upper hand in the job market for the first time …

Amid inflation worries, Fed signals an earlier increase in interest rates
3 years, 9 months ago

Amid inflation worries, Fed signals an earlier increase in interest rates

LA Times  

The Federal Reserve signaled Wednesday that it would likely nudge up interest rates earlier than previously expected in response to sizzling economic growth and a spike in prices that has sparked inflation fears. The Fed’s statement described the higher inflation as “largely reflecting transitory factors.” And many private economists agree that the recent surge in prices for many goods and …

Price Increases May Continue For A Few More Months, Ex-Fed Official Says
3 years, 9 months ago

Price Increases May Continue For A Few More Months, Ex-Fed Official Says

NPR  

Price Increases May Continue For A Few More Months, Ex-Fed Official Says NPR's Sarah McCammon talks with Donald Kohn, former vice chair of the Federal Reserve Board of Governors, about the latest economic data on inflation, and the outlook for the economy. SARAH MCCAMMON, HOST: Inflation is certain to be on the agenda as the Federal Reserve meets next week …

Fact check: Have wages grown steadily and outstripped inflation over the past decade?
6 years, 4 months ago

Fact check: Have wages grown steadily and outstripped inflation over the past decade?

ABC  

The claim The Federal Government is keen to make economic management a central issue in the election campaign, highlighting solid growth and falling unemployment. Loading Facebook content "Over the last 10 years, we've actually seen wages increase by around 30 per cent and inflation increase by around 20 per cent. In making her claim, Ms O'Dwyer said wages hadn't grown …

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