Blockchain Transaction Record
The Bureau of Labor Statistics' quarterly report of Weekly Earnings for the US worker showed that wages increased 5.7 percent in the last year, outpacing consumer inflation which is at 4% year-over-year. This is a welcome change for workers who had seen their real wages fall during the post pandemic inflation spike.
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Key Takeaways (TLDR)
- US workers experienced a welcomed increase in wages, outpacing consumer inflation, after a post-pandemic decline.
- The tight labor market, due to a decline in population growth, is driving wage inflation and competition for employees.
- Wages are rising due to a two-to-one ratio between job openings and available workers, following supply and demand principles.
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