Average hourly earnings keep growing

Wage growth since the Great Recession has remained fairly low, hovering around just 2%.

This is most likely not high enough to support the Fed’s stated inflation target of 2% year-over-year.

Over the past few months, wages have grown at a somewhat faster rate than this, reaching a post-crisis high of 2.6% in June.

According to the September jobs report, average hourly earnings matched that rate and bounced back from a disappointing August number, rising by 2.6% over the last year.

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