Judul : Wage growth holds steady beritamalay3.blogspot.com
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Wage growth holds steady beritamalay3.blogspot.com
For years after the 2008 financial crisis, growth in average hourly earnings stayed low, hovering at around 2% year-over-year.
This was most likely not high enough to support the Fed’s stated inflation target of 2% year-over-year.
However, 2016 saw wages climb at a somewhat faster rate, with average hourly earnings among all private employees growing in a range of 2.2% to 2.6% year-over-year, hitting a post-recession high of 2.9% in December.
According to the May jobs report, wages grew 2.5% from the previous year, falling below economists’ expectations of 2.6% and matching the 2.5% rate in April.
NOW WATCH: Former Navy SEAL commanders explain why they still wake up at 4:30 a.m. — and why you should, too
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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