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.
reply
PPIs still pointing downward
reply