Airforceone wrote:
What are you talking about wages are up 4.3% just in the last 12 months. Actually 5.6% since December of 2022.
At this time wages are increasing faster than price increases. I know you live by your communist upbringing and support the Trump/Putin party but like a true blue communist, you lack any kind of common sense.
Job growth was short of January's original tally of 353,000 jobs but above the revised number, which showed job growth was just 229,000. December and January combined were 167,000 lower than previously reported. February's job growth was seen across several industries, including health care, government, food services and drinking places, social assistance, and transportation and warehousing.
The unemployment rate increased by 0.2 percentage points from the previous month to 3.9%, pushing the number of unemployed people in the country up by 334,000 to 6.5 million. According to the BLS, the unemployment rate has ranged from 3.4% to 3.9% since March 2022.
The average hourly earnings for private employees rose 4.3% in the last year and increased by 0.1% from the previous month. This means wages have ranged between 4.3% and 4.5% for seven straight months and workers continue to see real growth in their spending power, except in housing. The continued gain in wages also does not help push inflation closer to the Federal Reserve's 2% target and could delay the plan to dial back interest rates.
"There have been several recent readings that have shown inflation to be hotter than expected," Dan North, Allianz Trade Americas senior economist, said in a statement.
"If this employment report continues to show strong job growth and wage increases, the Fed may not cut until September.
That indeed makes this a very critical report. It could be that classic good news equals bad news reports.
The good news of a strong labor market brings the bad news of rate cuts that seem to get further away."
Home price gains have outpaced wage growth despite its resilience. Home prices now stand 5.5% above where they were this time last year, according to the most recent S&P CoreLogic Case-Shiller Indices report.
The 10-city composite increased by 7% annually, up from a 6.3% increase in the previous month. At the same time, the 20-city composite posted a rise of 6.1%, up from a 5.4% increase in the previous month. The growth in home prices comes even as borrowers struggle with high mortgage rates.
https://www.foxbusiness.com/personal-finance/wage-growth-solid-february