Workers’ paychecks grew faster in the first quarter, a possible concern for the Fed

Associated Press

04/30/2024

Employment Costs — CONSTRUCTION WORKERS cut wood at a residential building site in Mount Prospect, Ill. Compensation as measured by the government’s Employment Cost Index rose 1.2% in the January-March quarter, up from a 0.9% increase in the previous quarter, the Labor Department said Tuesday. / ASSOCIATED PRESS / NAM Y. HUH

WASHINGTON (AP) – Pay and benefits for America’s workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve. Compensation as measured by the government’s Employment Cost Index rose 1.2% in the

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber