Are we really that worried about wage growth? ...Middle East

The ultimate nightmare for a central banker is a wage-price spiral so you can understand a focus on wages in general but officials need to understand it's a lagging indicator of inflation, perhaps the most lagging indicator.ECB officials droned on about wage inflation for months and now it's clear that it's not a problem and they have dropped the concern (but still aren't ready to cut). In the US, there was a freak-out about a +0.6% m/m rise in average hourly earnings last month but it's been revised lower and it's now clear that was skewed by a one-off drop in hours worked.US wages are now up 4.3% y/y which is a normal rise when factoring in productivity.The WSJ's Nick Timiraos highlights a

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Last updated : 08 March 2024 clock 06:29 PM

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Are we really that worried about wage growth? ...Middle East

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