SKN | U.S. Wage Growth Slows to 3.0% as Labor Market Pressures Continue to Ease
Economic Reports & Macro Data Wage Growth Continues to Moderate U.S. wage growth showed further signs of cooling in September, with average hourly earnings rising 3.0% compared with the same period a year earlier. The result was slightly below the 3.1% market expectation and matched the prior month’s increase. The chart highlights the gradual decline in wage growth from the elevated levels reached during the labor market disruption of 2021 and 2022. Following a sharp increase after the pandemic, annual wage growth has steadily moderated as labor supply conditions normalized and demand for workers became less intense. The latest reading suggests that wage pressures are no longer accelerating, reducing one of the major concerns that inflation could remain elevated due to persistent labor-cost increases. Labor […]