Current location:International Index news portal > sport
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
International Index news portal2024-05-21 17:26:05【sport】8People 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://saintpierreandmiquelon.afischerphasedrives.com/news-60e499520.html
Very good!(24)
Related articles
- ‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
- This is Money
- I've been hit with 40 driving penalties in London
- Dividend hero SAINT's manager on the best shares for income and growth
- Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
- Inside Thailand's last untouched island: Empty beaches, authentic villages, mangrove forests
- Sharp rise in rental fraud including faking payslips, as tenants seek to fight off competition
- Video tour of Gatwick's futuristic electric vehicle charging station
- The unstoppable duo of Emma Stone and Yorgos Lanthimos
- Blooming wonderful: Britain's best springtime escapes, from award
Popular articles
Recommended
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
Why Jimmy Mitchell's happy snap of his family boarding a plane saw him booted from a Jetstar flight
The ultimate coffee
How to sort your pension and Isa before the tax year ends: This is Money podcast
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Your state pension might NOT increase by the full 8.5% this month
Exquisite suites and unrivalled experiences
Biden pledges 'relentless diplomacy' on global challenges
Links
- China guides college graduates in supporting western development
- 1 killed, 3 injured in Israeli strikes on Lebanese villages
- Chinese publishers stage Doha Int'l Book Fair
- Soulful singer Michael McDonald looks back in his new memoir, 'What a Fool Believes'
- Bayer Leverkusen complete UNBEATEN Bundesliga season under Xabi Alonso as they beat Augsburg 2
- Bell hits tying homer as Marlins score 4 in 9th off struggling Díaz and rally past Mets 10
- Chinese FM spokesperson briefs on new round of China
- New art space integrates art with technology
- Northern Ireland secretary Chris Heaton
- Contreras hits 3