{"id":732,"date":"2023-10-31T14:15:55","date_gmt":"2023-10-31T14:15:55","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/a-key-measure-of-wages-grew-at-a-moderate-pace-this-summer\/"},"modified":"2023-10-31T14:15:55","modified_gmt":"2023-10-31T14:15:55","slug":"a-key-measure-of-wages-grew-at-a-moderate-pace-this-summer","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/a-key-measure-of-wages-grew-at-a-moderate-pace-this-summer\/","title":{"rendered":"A Key Measure of Wages Grew at a Moderate Pace This Summer"},"content":{"rendered":"


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A measure of pay and benefits that officials at the Federal Reserve have been watching closely as they try to gauge the heat of the labor market grew at a moderate pace over the summer.<\/p>\n

The Employment Cost Index<\/a>, a quarterly inflation measure from the Labor Department that tracks changes in wages and benefits, climbed 1.1 percent in the third quarter of 2023 versus the prior three months. That was slightly faster than the 1 percent that economists expected and up from the previous 1 percent reading.<\/p>\n

Still, that pace of growth is a deceleration from a series of rapid quarterly gains<\/a> in 2022. And on an annual basis, wage gains continue to slow: The employment cost measure picked up by 4.3 percent on a yearly basis, down from the 4.5 percent reading in the previous report.<\/p>\n

The index averaged 2.2 percent yearly gains in the decade leading up to the pandemic, underscoring that although the pace of wage gains is coming down, today\u2019s pace remains quick.<\/p>\n<\/div>\n