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MNI BRIEF: U.S. Wage Growth Stagnating At Strong Levels - ADP

ADP's Nela Richardson spoke with reporters on a call.
USCentral Bank NewsPolicy NewsFederal ReserveEM Policy NewsEM BriefBriefStoryNorth America

MNI (WASHINGTON) - U.S. wage growth has stopped declining in the last several months, ADP economist Nela Richardson said Wednesday, a trend that is likely to grab the attention of Federal Reserve officials hoping inflation will keep receding. 

For job stayers that constitute the majority of the ADP sample, “that growth rate is 4.7% now, we see very little budging in this number,” she said in a call with reporters. “Wages are the bridge between the labor market and inflation, and so seeing that a 4.7% means that there is currently a labor market floor in terms of wages that have been steady for the last several months.”

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MNI (WASHINGTON) - U.S. wage growth has stopped declining in the last several months, ADP economist Nela Richardson said Wednesday, a trend that is likely to grab the attention of Federal Reserve officials hoping inflation will keep receding. 

For job stayers that constitute the majority of the ADP sample, “that growth rate is 4.7% now, we see very little budging in this number,” she said in a call with reporters. “Wages are the bridge between the labor market and inflation, and so seeing that a 4.7% means that there is currently a labor market floor in terms of wages that have been steady for the last several months.”

Keep reading...Show less