PT Solid Gold Berjangka | US Employment Costs Rose in Fourth Quarter by Less Than Forecast

01:29 01 February in Economy, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Ekonomi AS Employment Cost Index q/q PT SGB Solid Group Solid Gold Berjangka SG Berjangka

Solid Gold Berjangka | US employment costs rose at the end of 2023 by less than forecast, consistent with a gradual moderation in the labor market that’s key to the Federal Reserve’s fight against inflation.

The employment cost index, a broad gauge of wages and benefits, increased 0.9% in the fourth quarter, the smallest advance since 2021, after rising 1.1% in the prior three-month period, according to Bureau of Labor Statistics figures released Wednesday. The median estimate in a Bloomberg survey of economists called for a 1% rise.

Compared with a year earlier, the ECI was up 4.2%, the smallest annual advance since the end of 2021. Still, that’s well above the typical pace seen in the years before the pandemic.

While there are a number of other earnings metrics published more frequently — including average hourly earnings figures from the monthly jobs report — economists tend to favor the ECI because it’s not distorted by shifts in the composition of employment among occupations or industries. It’s also the Fed’s preferred wage measure.

Source : Bloomberg