In October, the average hourly wage of all employees increased private payroll administrations the nonfarm sector rose 7 cents, or 0.2%, to $34.00. Over the past twelve months, the average hourly wage has increased by 4.1%.
The Federal Reserve (Fed) keeps a close eye on employment figures. At their last meeting this week, they decided to pause increases after 11 increases and keep them within the current range of 5.25% and 5.5%, the highest level since 2001.
A pause that takes place in a complex context of inflation. After a series of more than a year of declines from the peak of 9.1% reached in June 2022, prices registered a five-tenths increase in August to 3.7%, the second increase consecutive and in September they remained at the same level.
It also occurs when the United States has recorded an unexpected recovery in its gross domestic product, with an increase of 1.2% in the United States. third trimesterwith an annual growth rate of 4.9%, according to data published by last week Bureau of Economic Statistics (BEA).
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
