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Bad news for the Fed Dovs: As the final quarter of 2023 draws to a close, the US experiences a discernible 0.9% increase in labor costs, diverging marginally from economists' foresight. Released by the US Department of Labor, this data follows a 1.1% surge in the preceding quarter.
The annual perspective reveals a substantial 4.2% upswing in labor costs. The enormous public spending and state job creation corners the labour market.
It does seem like inflation is starting to simmer again.
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PPIs still pointing downward
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