It seems both are rising at a rate that will keep inflation in check ... for now.
A Federal Reserve survey found consumers are expecting inflation to hit 4% next year.
The measure fell at the steepest rate in 40 years, but that might not be as ominous as it sounds — if the trend is short term.
Average hourly earnings are rising about 3% per year. In some occupations, gains are much stronger.
The Economic Policy Institute says the highest earners are getting the biggest raises.
President Trump in Davos celebrated low- and middle-class gains. But staples of the blue-collar workforce, like manufacturing, are not faring well.
A Bankrate.com survey of 1,000 people across the country found only 49% of respondents got a raise in 2019.
Average hourly earnings were unchanged in September, and the annual growth rate fell 0.3% from the previous month.
Annual growth in average hourly earnings has fallen back after hitting 3.4% in Feburary, a post-recession peak.
Small business owners, who have struggled to find the workers they need, are frustrated.