U.S. Wages and Salaries Growth
Wages grew by 4.16% during January 2019 versus the same period in 2018. According to Trading Economics, this is below the long-term average (1960–2019) of 6.20%, but significantly higher than levels reached during the Great Recession, when wages fell by as much as 5.88% in March 2009. The current level reflects moderate strength in the labor market.
After exceptionally strong January reports (gains of 311,000 new jobs), nonfarm payroll weakened considerably, to a gain of only 20,000 jobs. This represents the lowest increase since February 2017. Construction employment contracted, but there were gains in professional and business services, wholesale trade, and healthcare.
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