Workers & # 039; Payment increases at the fastest rate in a decade
Workers & # 039; Payment increases at the fastest rate in a decade
US paychecks increased last year to the fastest rate in more than a decade, showing that an adjusted labor market is paying dividends for more workers.
Wages and salaries paid to private sector workers in the United States increased by 3.1% from the previous year in the third quarter, the Labor Department said on Wednesday. That was the biggest gain year after year since the second quarter of 2008.
The latest data adds to the "broader evidence that wage growth has continued to increase gradually in recent quarters," wrote Michael Pearce, an economist at Capital Economics, in a note to clients. With labor market conditions even more stringent, "we expect wage growth to accelerate even further from here."
the The unemployment rate fell to 3.7% in September., at the end of the third quarter. That was the lowest reading of unemployment in 49 years. Combined with constant hiring, that seems to put workers in a position to order a better compensation.
A worker prepares a shipping order at the My Pillow production facility in Shakopee, Minnesota, in September.
Photo:
Ari Lindquist / Bloomberg News
Economists polled by The Wall Street Journal expect Friday's jobs report to show that a more-watched wage indicator, the average hourly earnings for private sector employees, increased by more than 3% from the previous year in October. It would be the first time that this measure exceeded 3% since 2009.
Wednesday's pay data came from a broader compensation measure known as the employment cost index. Represents both salaries and benefits paid to civilian workers. The general index rose 0.8% adjusted seasonally in July and September. The gain was an increase with respect to the 0.6% advance of the second quarter and the expectations of the economists surveyed by the Journal.
Salaries and salaries, which represent around 70% of total compensation, increased by 0.9% in the quarter. Benefit costs, which include health coverageRetirement benefits and paid holidays advanced 0.4% slower.
Since the previous year, general compensation, including that paid to state and local government workers, increased 2.8% in the third quarter.
Profit growth cooled as wage growth increased. That could be a sign that employers are changing compensation to base salary. It could also indicate that bonuses related to the reduction of taxes, which one Support the growth of benefits. At the beginning of the year, it did not extend to the third quarter.
The Department of Labor said that the costs of health care benefits accelerated from the previous year, while the growth of other benefits decreased. The department will release more details about the composition of benefits in December.
Wednesday's report showed that total compensation for private sector workers increased by 0.8% in the quarter and by 2.9% from the previous year. Compensation of state and local government employees increased by 0.8% in the quarter and increased by 2.5% from the previous year.
Workers' compensation is now increasing at a faster rate than prices. The consumer price index rose 2.3% from the previous year in September, the Labor Department said.
Divergent data sends a mixed signal. Many economists believe that wage growth is a precursor to broader inflationary pressures, but recent data shows that gains in consumer prices are cooling. That could give consumers the confidence that they are in a good position to spend their increases.
A Measure of consumer confidence in the United States., released on Tuesday, rose in October to a maximum of almost two decades. The Conference Board, which produces the measure, attributed the positive evaluation to a strong labor market.
Write to Eric Morath in eric.morath@wsj.com
.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,'script',
'https://connect.facebook.net/en_US/fbevents.js');
fbq('init', '369524843414444');
fbq('track', 'PageView');
.
SOURCE LINK ERESVIRAL.COM https://www.beviral.online
Comentarios
Publicar un comentario