Real Wages—All Employees
After many years of stagnant real wage growth (adjusted for inflation), the U.S. labor market saw improvement in wages paid. This was driven by tight labor market conditions and rising minimum wage levels in various regions of the country.
The rather quiescent inflation data gives the Federal Reserve some perceived discretion to tread lightly in its program to normalize short-term interest rates. The markets continue to anticipate additional rate increases in 2019.
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