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With the labor market launch, we have now a brand new learn on actual wage development.
Determine 1: 12 months-on-12 months development charge of common hourly earnings for personal sector manufacturing and nonsupervisory employees adjusted by CPI (blue), manufacturing and nonsupervisory employees in leisure and hospitality providers (tan), median hourly earnings of all employees (inexperienced). October CPI is the Cleveland Fed m/m nowcast. Supply: BLS, Atlanta Fed Wage Development Tracker, Cleveland Fed inflation nowcast accessed 11/3/2023, and creator’s calculations.
Actual common wages are rising 1.1% y/y, -1.0% q/q annualized.
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