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Wage growth

7 in 10 big firms report wage hikes, survey says. Is it enough to keep up with inflation?

by Nancy Marshall-Genzer
Apr 25, 2022
Some economists in the survey don’t expect their firms to pay workers more in the future.
Consumer sentiment registered an uptick in the University of Michigan's latest survey, but buyers remain wary about the economy as a whole.
Spencer Platt/Getty Images
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The statistic Fed Chair Powell uses to keep an eye out for wage inflation

by Mitchell Hartman
Jan 26, 2022
The central bank will scrutinize the employment cost index for 2021’s fourth quarter for signs that rising pay could fuel rising prices.
Federal Reserve chief Jerome Powell has turned his efforts toward containing inflation. The employment cost index is one of the economic indicators the Fed examines in setting monetary policy.
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Many states and cities to raise minimum wage in the New Year

by Meghan McCarty Carino
Dec 24, 2021
Will employers notice? Many are already raising wages for their workers because of the labor crunch.
Even without jurisdictions raising the minimum wage, some employers are upping pay anyway to remain competitive in a tight labor market. Above, activists rally for a $15 an hour minimum wage.
Kevin Dietsch via Getty Images
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Will wages continue to keep up with inflation?

by Amanda Peacher
Dec 15, 2021
Workers' incomes may see further gains as the ongoing labor shortage pushes employers to offer higher pay.
Experts don't expect wage growth to stall given how many workers remain on the sidelines while companies have jobs to fill.
Robyn Beck/AFP via Getty Images
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4.2 million people quit their jobs in October

by Sabri Ben-Achour
Dec 8, 2021
That was down slightly from September, but still high. Some say watch that figure to know what will happen to the economy in 2022.
According to the latest JOLTS report, the accommodation and food services sector had the largest increase in job openings.
Joe Raedle via Getty Images
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Good news in the latest jobs report: Wages are up, especially in low-paying sectors

by Mitchell Hartman
Nov 5, 2021
The not-so-good news? Inflation has eaten up most of the gains.
While lower-wage service workers, like bar and restaurant employees, are seeing some of the highest wage growth, they're also the most vulnerable to cost-of-living increases.
Joe Raedle via Getty Images
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Wages keep going up. Will prices do the same?

by Sabri Ben-Achour
Jun 18, 2021
It seems both are rising at a rate that will keep inflation in check ... for now.
Jekesai Njikizana/AFP via Getty Images
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The Federal Reserve

Consumer forecasts of inflation could be a self-fulfilling prophecy

by Nancy Marshall-Genzer
Jun 14, 2021
A Federal Reserve survey found consumers are expecting inflation to hit 4% next year.
Consumers told the New York Fed they expect a 4% inflation rate next year. Officials with the central bank will meet this week to consider adjustments to their interest rate policy.
Scott Olson via Getty Images
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U.S. productivity plummeted in Q4, and reopening the economy might be why

by Kai Ryssdal and Sean McHenry
Mar 4, 2021
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.
Less productive businesses like restaurants have started to reopen, which may be causing national productivity data to decline.
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From financial advisers to restaurant workers — where wage gains are above average

by Mitchell Hartman
Mar 5, 2020
Average hourly earnings are rising about 3% per year. In some occupations, gains are much stronger.
Andrew Burton/Getty Images
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