Current location:World Watchers news portal > sport
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
World Watchers news portal2024-05-21 17:52:42【sport】9People 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://pitcairnislands.downmusic.org/html-48d299654.html
Very good!(25219)
Related articles
- NBA playoffs: Edwards leads Wolves to 98
- China’s rover makes first step on Mars
- 8th China (Shanghai) International Technology Fair kicks off
- Airlines see significant recovery in bookings
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- Mars probe Tianwen 1 leaves Chinese mark on red planet
- China launches space
- China's non
- Adams, Reyna, Turner, Ream are US concerns ahead of Copa America
- China launches new satellite group
Popular articles
Recommended
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
Luxury shopping over extended holiday heating up
China to lead way in clean energy shipbuilding
Nation has right ingredients for culinary success
Russian theater director and playwright go on trial over a play authorities say justifies terrorism
China's NEV exports rise on supply chain strengths, policy incentives
China deploys in
China's new
Links
- The opening round of the Wells Fargo Championship is delayed with rain in the forecast
- Astroworld crowd surge: 9 of 10 wrongful death suits have been settled
- Disney receives key approval to expand Southern California theme parks
- Spanish prosecutors recommend 2nd investigation into Shakira's taxes be thrown out
- Tiger Woods to feature at PGA Championship along with 16 LIV golfers
- Advocates ask Supreme Court to back Louisiana's new mostly Black House district
- Dogs entering US must be 6 months old and microchipped to prevent spread of rabies, new rules say
- Former corrections officer sentenced to 4 years for using excessive force
- Andy Murray to return from ankle injury at Geneva Open this month
- Grease star Susan Buckner dead at 72: The actress played cheerleader Patty opposite Olivia Newton