Wages See Biggest Increase in a Decade
January 31, 2019
Wages and salaries for American workers increased by 3.1 percent in the fourth quarter of 2018, according to the Bureau of Labor Statistics’ Employment Cost Index. This is up from 2.9 percent growth in the third quarter, and marks the biggest increase since the end of 2008. The overall index, which factors in benefits, as well as wages, increased 2.9 percent.
The index is closely watched by the Federal Reserve, as it serves as a key indicator of inflationary pressure.