Current location:Culture Craft news portal > politics
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Culture Craft news portal2024-05-21 19:44:30【politics】2People have gathered around
IntroductionWASHINGTON (AP) — Pay and benefits for America’s workers grew more quickly in the first three months
WASHINGTON (AP) — Pay and benefits for America’s workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve.
Compensation as measured by the government’s Employment Cost Index rose 1.2% in the January-March quarter, up from a 0.9% increase in the previous quarter, the Labor Department said Tuesday. Compared with the same quarter a year earlier, compensation growth was 4.2%, the same as the previous quarter.
The increase in wages and benefits is good for employees, to be sure, but could add to concerns at the Fed that inflation may remain too high in the coming months. The Fed is expected to keep its key short-term rate unchanged after its latest policy meeting concludes Wednesday.
Fed Chair Jerome Powell and other officials have recently backed away from signaling that the Fed will necessarily cut rates this year, after several months of higher-than-expected inflation readings. Big price increases for rents, car insurance and health care have kept inflation stubbornly above the Fed’s 2% inflation target.
Address of this article:http://russia.soorot.com/news-37b199776.html
Very good!(78862)
Related articles
- A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
- Rangers shut out Nationals 6
- Jay Leno's dementia
- Rangers shut out Nationals 6
- Shooting injures 2 at Missouri high school graduation ceremony
- Stock market today: Asian shares advance ahead of US jobs report
- Alabama court authorizes second nitrogen execution
- The first wrongful
- Nuggets blow 20
- Azealia Banks slammed for calling Kendrick Lamar a 'nepo baby' amid Drake feud
Popular articles
Recommended
Shooting injures 2 at Missouri high school graduation ceremony
Arizona governor's signing of abortion law repeal follows political fight by women lawmakers
Defense chiefs from US, Australia, Japan and Philippines vow to deepen cooperation
USWNT legend Carli Lloyd reveals she is expecting her first child at age 41
What a blast to work at NASA. Space agency is sky
China is sending a probe to get samples from the less
Bachelor runner
China is sending a probe to get samples from the less
Links
- The night that bra
- Georgia's attorney general says Savannah overstepped in outlawing guns in unlocked cars
- Nigerian journalist's arrest last week triggers criticism of worsening press freedoms
- 2 killed when a small plane headed to South Carolina crashes in Virginia, police say
- Outrage as pro
- Skye Wheatley hosts reunion with her I'm A Celebrity co
- How Rita Moreno uses honors like an upcoming public television award to further her philanthropy
- Macron sets Ukraine war as top priority as China's Xi Jinping arrives in France
- John Swinney expected to lead Scotland after being confirmed as Scottish National Party leader
- Human remains were found at a former Hitler base, but decay prevents determining the cause of death