Wages grew more slowly than in the last two months.
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. Last month’s jobs report showed some improvement, with wages rising 2.5% over the prior year, which was a decent pace that beat expectations.
According to the February jobs report, wages grew 2.2% during the last year, down from the last two months and slightly lower than analysts’ expectations for 2.5% growth: