U.S. worker paycheck growth slowed late last year, suggesting cooling in the job market

Associated Press

01/31/2024

Employment Costs — COMPENSATION AS measured by the government's Employment Cost Index rose 0.9% in the October-December quarter, down from a 1.1% increase in the previous quarter, the Labor Department said Wednesday. Compared with the same quarter a year earlier, compensation growth slowed to 4.2% from 4.3%. / ASSOCIATED PRESS / LYNNE SKADKY

WASHINGTON (AP) – Pay and benefits for America’s workers grew at the slowest pace in two and a half years, a trend that could affect the Federal Reserve’s decision about when to begin cutting interest rates. Compensation as measured by the government’s Employment Cost Index rose 0.9% in the October-December quarter, down from a 1.1%

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