Current location:sport >>
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
sport115People 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.“Stellar Spotlight news portal”。http://denmark.fivesixgroup.com/content-59b399632.html
Related articles
Lynn Williams breaks NWSL goal
sportLynn Williams scored her 79th league goal, becoming the National Women’s Soccer League all-time scor ...
【sport】
Read moreGeorgia governor signs new election changes into law
sportATLANTA (AP) — Gov. Brian Kemp signed legislation Tuesday that makes additional changes to Georgia’s ...
【sport】
Read moreWoman, 31, was left 'burning from the inside out' in 17
sportA woman has claimed she was placed in a 17-day coma after suffering a rare reaction to ibuprofen tha ...
【sport】
Read more
Popular articles
Latest articles
Kate Hudson hits the stage to debut songs from her new album Glorious at star
Rail strikes chaos brings Britain's creaking train lines to a halt
What to know about the Penske scandal that has rocked IndyCar
Where were Kanye West and Bianca Censori's Met Gala invites? As his ex
Who is Abi Carter? Inside the American Idol winner's unconventional family life
Disney's streaming business turns a profit in first financial report since challenge to Iger
LINKS
- Travis Kelce responds to Jana Kramer's claims he's a bad influence on girlfriend Taylor Swift
- SAMANTHA BRICK: I'm a brilliant driver
- Nelly Korda shoots 69 to put herself in position for a record
- Catholic church is stonewalling sex abuse investigation, Washington attorney general says
- AP Week in Pictures: Global
- 2024 South Carolina General Assembly session may be remembered for what didn't happen
- Ireland's Eurovision entry Bambie Thug slams organisers for making the singer remove pro
- Travis Kelce responds to Jana Kramer's claims he's a bad influence on girlfriend Taylor Swift
- Democratic ex
- Lea Michele showcases baby bump in figure