Current location:Earth Examination news portal > travel
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Earth Examination news portal2024-05-22 11:22:37【travel】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://kenya.campingcolorado.net/article-93b799164.html
Very good!(23)
Related articles
- Broncos linebacker Drew Sanders to miss most of '24 season after tearing an Achilles tendon
- Chinese embassy urges US, UK and Australia to stop forming exclusionary blocs
- Chinese vice president meets Argentine foreign minister
- Global think tank forum highlights future industries, innovation
- Yes, Australia is among the countries the NFL is scouting to host future games
- Maryland officials release timeline, cost estimate, for rebuilding bridge
- Wisconsin tries to regain supremacy in the trenches under its 4th O
- Farmer who demolished a 17th century Grade II listed dovecote without permission is fined £45,000
- Wisconsin regulators investigating manure spill that caused mile
- Experts urge stronger support for biodiversity conservation
Popular articles
- Analysis: Bryson DeChambeau doesn't win the PGA trophy, but he does win the crowd
- NHL players are refining the art of the bank shot via ricochet off the masks of the goaltenders
- Frat boys at UNC Chapel Hill surround American flag in protection as pro Palestine mob runs wild
- Rwanda marks Int'l Labor Day with emphasis on youth digital skills promotion
Recommended
Supreme Court: CFPB funding doesn't violate Constitution
Country makes solar affordable worldwide
AI data training supported by domestic chips, supercomputers
UN General Assembly to resume emergency special session on Mideast
At least 40 villagers shot dead in latest violence in Nigeria's conflict
Soccer jersey dispute between Algeria and Morocco clubs over Western Sahara goes to sports court
Japan PM Kishida sends offering to notorious war
Iran set to retaliate for Israel's consulate attack in Syria: Experts
Links
- Xi Meets Russian Foreign Minister
- Xi Meets Merieux Foundation President and His Wife
- Xi Replies to Letter from Counter
- Commentary: China's pro
- Royal Marines preparing to lead 'Dunkirk
- News Analysis: Türkiye's economic woes far from over amid tumbling currency, looming debt
- Top Chinese diplomat stresses China
- Girl, five, dies in horror crash with a lorry while riding her bike outside the school gates
- Top Chinese diplomat stresses China
- Chinese pianist Lang Lang honored with Hollywood Walk of Fame star