Monday, July 28, 2014

Wages rose 2 percent over the past year

One important data point from today's release — "wages rose 2 percent over the past year."

This is a bit of an ambiguous indicator. The number is high enough that people who've been itching for interest rate hikes can certainly point to it as a sign that economic slack is gone and it's time to shift to tighter money. On the other hand, 2 percent year-on-year growth is hardly mind-blowing prosperity. It's not even a hint of catchup from the years-long span of massive slack and no wage growth. Giving workers a chance at seeing some real gains requires the Fed to not have an itchy trigger finger on those rate hikes.

Read This

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.
Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.