Wage growth slows down

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:

NOW WATCH: This $4 billion subway station was just unveiled in New York

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.