Wage growth misses expectations
Advertisement
For years after the 2008 financial crisis, growth in average hourly earnings stayed low, hovering at around 2% year over year.
Advertisement
This was most likely not high enough to support the Fed's stated inflation target of 2% year-over-year.
However, 2016 has seen wages growing at a somewhat faster rate than this, with average hourly earnings growing in a range of 2.2% to 2.6% year-over-year, and hitting a post-recession high of 2.8% in October.
According to the November jobs report, average hourly earnings grew by 2.5% year-over-year, well below Bloomberg's consensus economists' expectations for a continued 2.8% growth rate.
Advertisement
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore