Some economists in the survey don’t expect their firms to pay workers more in the future.

The central bank will scrutinize the employment cost index for 2021’s fourth quarter for signs that rising pay could fuel rising prices.

Will employers notice? Many are already raising wages for their workers because of the labor crunch.

Workers’ incomes may see further gains as the ongoing labor shortage pushes employers to offer higher pay.

That was down slightly from September, but still high. Some say watch that figure to know what will happen to the economy in 2022.

The not-so-good news? Inflation has eaten up most of the gains.

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.