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<Econ> US Mar Average Hourly Earnings Growth Slows, YoY Increase Hits Nearly Four-Year Low
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The US Bureau of Labor Statistics announced on Friday that average hourly earnings of private nonfarm employees rose 0.2% MoM in March, increasing by USD0.09 to USD37.38, marking the smallest gain in three months and below the market expectation of 0.3%. The figure had risen 0.4% in both January and February. During the period, average hourly earnings of production and nonsupervisory employees increased 0.2% MoM, up USD0.05 to USD32.07. On a YoY basis, overall average hourly earnings growth slowed to 3.5%, the lowest level since May 2021, also below the market expectation of 3.7% and further down from 3.8% in February. Analysts believe that the cooling in wage growth may help ease inflationary pressure, but it also reflects weakening momentum in the labor market, which could affect the Federal Reserve's future interest rate policy direction. (me/s) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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