Posted by on June 24, 2022 9:35 am
Categories: Breaking News Epoch Times News

Labor Market Showing Signs of Cooling, Hourly Earning Increases Slowed: Wells Fargo

The labor market in the United States has cooled down in recent months and dropped to February 2021 levels, according to the Wells Fargo Investment Institute.
In a note on Thursday, the bank said that while wage figures are varied, increases to average hourly earnings have slowed down in May after peaking in March. They added that this leaves wage increases now below the level of inflation.
Employee salaries have been steadily increasing over the past year as companies battled with chronic labor shortages, prompted in part by the COVID-19 pandemic. In response, a slew of businesses have pushed wages up higher in an effort to attract and retain staff….

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