Employment Cost Index up 1.2pc, year-on-year increase is 4.2pc
WASHINGTON – US labour costs increased more than expected in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year that will likely delay a much- anticipated interest rate cut later this year.
Some economists blamed the quarterly rise in US wages on challenges adjusting the data at the start of the year for seasonal fluctuations. A handful of economists continue to expect that borrowing costs may be lowered in July in the belief that the labour market will slow noticeably in the coming months. Others believe the window for the Fed to start its easing cycle is closing.Wages increased 1.1pc in the January-March quarter after advancing by the same margin in the prior three months. They jumped 4.4pc year-on-year after rising 4.3pc in the fourth quarter. Private sector wages rose 1.1pc after gaining 1.
With fewer workers quitting their jobs in search of greener pastures and increasing labour supply, driven by a rise in immigration over the past year, economists expect wages to gradually trend lower this year and bring inflation closer to the Fed's 2pc target. Though job growth accelerated in the first quarter, surveys including from the NFIB and Institute for Supply Management suggest a moderation ahead.
Inflation Fed Rate Cuts US Inflation US Interest Rate Employment Cost Index ECI Interest Rate Labour Market Inflation-Adjusted Wages US Wages House Prices
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Oil posts weekly loss after nearing a six-month highIEA trims 2024 demand growth view; Concerns prevail over slower US interest rate cuts
مزید پڑھ »
India inflation eases to five-month low thanks to drop in fuel pricesUS interest rate cut delay may affect RBI decision
مزید پڑھ »
US Fed to meet amid dwindling hopes of summer rate cutsThe Fed's decision to hike interest rates has helped to significantly lower elevated inflation
مزید پڑھ »
Taking steps to curb inflation, US interest rates not a 'big concern': AurangzebRemarks about Federal Reserve came as global peers feel impact of foot-dragging on rate cuts
مزید پڑھ »
MPC members say India rate cuts required to reach potential growthHowever, they remained divided over timing
مزید پڑھ »
Samsung Surpasses Apple as World’s Top Smartphone MakerThe smartphone industry during the first quarter of 2024 presented the dynamic and competitive environment.
مزید پڑھ »