Your current location:HOME >world >Workers' paychecks grew faster in the first quarter, a possible concern for the Fed 正文
TIME:2024-05-21 18:51:08 Source: Internet compilationEdit:world
WASHINGTON (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.
Election 2024: Biden and Trump bypassed the Commission on Presidential Debates2024-05-21 18:21
Volunteer Work Enriches Family's Happiness2024-05-21 18:05
Delivers Love to Disadvantaged Women2024-05-21 18:02
Contributing to Sino2024-05-21 17:58
Adams, Reyna, Turner, Ream are US concerns ahead of Copa America2024-05-21 17:25
Chinese Children's Books Impress Overseas Readers, Gain Increasing Popularity2024-05-21 17:08
Courtyard 27 — Growing a Seed of Happiness2024-05-21 16:55
Family Inherits Spirit of Lei Feng2024-05-21 16:46
Sweden beats France, Britain relegated after losing to Norway at hockey worlds2024-05-21 16:33
Diversity Is Beauty and Strength2024-05-21 16:08
Four people killed in a house explosion in southwestern Missouri2024-05-21 18:42
China Making Great Strides in Women's Cause2024-05-21 18:36
Courtyard 27 — Growing a Seed of Happiness2024-05-21 18:22
Advancing Rural Development Through Modern Agriculture2024-05-21 17:34
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue2024-05-21 17:31
Inheriting Family's Virtues Through Reading2024-05-21 17:25
'Our Life Is the Best China Story'2024-05-21 17:24
Telling China's Story in Objective, Comprehensive Way2024-05-21 17:08
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers2024-05-21 16:36
Sheng: Ancestor of Free2024-05-21 16:18