Current location:world >>
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
world91647People 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.“International Insight news portal”。http://northkorea.whetstonetavern.com/article-04c199896.html
Related articles
What's causing the catastrophic rainfall in Kenya?
worldNAIROBI, Kenya (AP) — The torrential rains and deadly floods that have hit Kenya since March have be ...
【world】
Read moreMy toddler saved my life after I had an epileptic seizure and fell in the bath
worldA mother has credited her toddler with saving her life after she had an epileptic seizure and fell i ...
【world】
Read moreI lost my five
worldSitting in Sainsbury’s car park with four noisy children, four howling cats in carriers and all the ...
【world】
Read more
Popular articles
- FCC fines wireless carriers for sharing user locations without consent
- Edoardo Mapelli Mozzi drives wife Princess Beatrice and his son Wolfie and sister
- Core blimey: Bramley & butternut squash soup with gorgonzola cream
- Ashley Roberts puts on a leggy display in a tiny mini
- Miriam: Death Of A Reality Star review
- Core blimey: Slow
Latest articles
LINKS
- Israel to open three humanitarian routes into Gaza
- Israel to open three humanitarian routes into Gaza
- Russia sentences Pussy Riot activist to six years in absentia for Ukraine "war fakes"
- April 12, 2024
- Hong Kong arts charity cancels deaf dance group performance
- Pope Francis calls for ceasefire in Gaza and Ukraine in Easter message
- Tens of thousands of Israelis rally in Tel Aviv demanding Gaza hostage deal
- Hong Kong arts charity cancels deaf dance group performance
- 3 Body Problem: Lawyer sentenced to death for Lin Qi murder
- HK gov't declines to say how much funding it gave for 'Chubby Hearts'