Current location:entertainment >>
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
entertainment897People 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.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Earth Explorer news portal”。http://bahrain.tom-paine.com/news-48d299654.html
Related articles
MPs' fury at 'virtue
entertainmentMPs today dismissed a 'virtue-signalling' claim that the UK owes Caribbean nations more than £200bil ...
Read moreSuspect in shooting of Slovak prime minister is escorted to his home as police search for evidence
entertainmentBRATISLAVA, Slovakia (AP) — A man charged with attempting to assassinate Slovak Prime Minister Rober ...
Read moreHas VAR broken the beautiful game? The hated technology's SIX biggest blunders, as fed
entertainmentFootball fans may be divided by tribal rivalries but one subject has united supporters of the 'beaut ...
Read more
Popular articles
- How Robert F. Kennedy Jr. could make the first debate stage
- Brazil picked by FIFA to get soccer's 2027 Women's World Cup, a first for South America
- Rishi squirms under the fire of the Loose Women: Awkward scenes on daytime TV as Janet Street
- Chinese premier congratulates Mishustin on reassuming office as Russian PM
- OpenAI pauses ChatGPT voice after Scarlett Johansson comparisons
- Mets beat Phillies 6
Latest articles
Patrick Reed withdraws from US Open qualifying and ends streak of playing the majors
Global obesity deaths rise by 50 percent since 2000, major report shows
Double child killer Colin Pitchfork who raped and strangled two 15
Double child killer Colin Pitchfork who raped and strangled two 15
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
Conor McGregor's dad Tony, 64, is hospitalized in Ireland after major health scare
LINKS
- Hoping for a World Without Illness
- WCBA Finals: Sichuan stage comeback win in Game 1
- Guangzhou, Shanghai take lead in CBA playoffs
- Headmistress Committed to Primary School Education for Decades
- Junior of Revolutionaries Inherits, Promotes Family's 'Red Gene'
- Lifelong Passion for Painting Persists
- Zhang Guimei: Helping Impoverished Girls Improve Education, Changing Their Fates
- Academicians Vow Greater Contributions
- Ding Lanying: Helping Yi Women Embroider Bright Future
- HKSAR chief executive congratulates athletes of Hong Kong, China for Asiad achievements