Current location:Stellar Space news portal > health
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Stellar Space news portal2024-05-21 21:39:50【health】6People 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://seychelles.highlanderdistrict.org/article-59b399632.html
Very good!(53)
Related articles
- Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
- Ashes of Jiang Zemin Scattered into the Sea
- Xi Focus: Xi Meets with HKSAR Chief Executive
- 3 dead, 10 injured in fire at south China nursing home
- Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
- Xiplomacy: China, Philippines Usher in 'New Golden Era' in Relations
- Xi, Putin Exchange New Year Greetings
- Chinese, Turkmen Presidents Hold Talks, Elevating Ties to Comprehensive Strategic Partnership
- Mystery artist who erected signs comparing pothole
- China specifies steps to improve payment services in tourist attractions
Popular articles
Recommended
Shohei Ohtani's first walk
Xi Focus: Xi Addresses 2023 New Year Gathering of China's Top Political Advisory Body
Xi Says China, GCC States Natural Partners for Cooperation
Xi Signs Order to Promulgate Regulations on Honors for Servicemen
Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
Xi Focus: 17
Xinhua Headlines
Xi Calls for Fostering Closer China
Links
- (BRF2023) Xi to Address Opening Ceremony of 3rd Belt and Road Forum for Int'l Cooperation
- Mobile World Congress 2023 sees strong return of Asian participants
- China Eastern Airlines to operate more C919 planes
- Unmanned strike aircraft shows its mettle
- Xi, North Macedonia's President Exchange Congratulations on 30th Anniversary of Diplomatic Ties
- Huawei embraces all
- Fresh priorities define 'future industries'
- Number of round
- Chinese firms to take center stage at MWC 2024
- More than 85,000 freight train trips connect China to Europe