The US labor market is cooling off ...Middle East

Quartz - Economy
The US labor market is cooling off
source : Quartz ( Middle East ) () 8
The blistering hot US labor market is showing signs of cooling off. After surging over the winter, growth in hourly earnings is slowing down, to 0.3% in April compared to 0.5% in the previous month, according to the latest US jobs report released Friday. That’s also lower than the 0.4% monthly increase economists were expecting.While month-to-month the slowdown in wages is tiny, it would add up to a big change if it continued at the current pace over a longer period. To put it into perspective: If the last three months of wage growth were annualized, it would amount to a 3.7% increase in wages. In contrast, the pace of growth during the previous three months would amount to an annualized inc

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