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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.
US DATA
- Total employment cost index growth was a tenth softer than expected in Q4 at 0.97% Q/Q non-annualized (cons 1.1) after 1.25% in Q3.
- Similar moderation if you look at just wages & salaries (1.04 from 1.32), but somewhat less pronounced for private industries (0.97 from 1.05, private wages & salaries at 1.03 from 1.17).
- Private sector wages & salaries give the best comparison with AHE from monthly payrolls, and the easing to the slowest pace since 2Q21 left the two series consistent. It dispels compositional adjustments being behind total AHE growth slowing to 4.3% annualized in Q4 (softest since 1Q21) and closer to 3.5% annualized in December alone.
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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