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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Today's moderation in AHE Y/Y (4.286% from 4.361% in July) is supportive of a further moderation in the quarterly Employment Cost Index (next release is due on October 31st, covering Q3), for which the Y/Y AHE has been leading since the wages surge during the post-pandemic recovery.
Figure 1: AHE supportive of further decline in quarterly Employment Cost Index
- Also worth noting that the uptick in the participation rate this month was not due to continued recovery in prime-age participation (i.e. Those aged 25 - 54 ), so likely stemmed from older workers, who have lagged the prime-age cohort since the pandemic.
Figure 2: Uptick in participation not due to prime-age workforce
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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