Wage growth ticked up in May

Year-over-year percentage change in earnings vs. inflation

0

+2

+4

+6

+8%

2019

2020

2021

2022

2023

2024

+4.1%
in May

+3.4%
in April

Consumer Price Index

Avg. hourly earnings

Note: Earnings data is seasonally adjusted.

Source: Bureau of Labor Statistics

By Ella Koeze

As officials at the Federal Reserve weigh whether and when to cut interest rates this year, they have been hoping to see evidence that the labor market is gradually cooling but with unemployment remaining low.

The jobs report released Friday carried bad news on all fronts.

Hiring and wage growth both accelerated in May, according to the report. That could add to fears that the labor

Keep reading this article on Andrew Ross Sorkin - DealBook Section Business New York Times.

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