Worker pay in the US rises at slowest pace since 1982

FXStreet (Mumbai) – Wages and salaries in the US rose in the second quarter at the slowest pace on record, contradicting expectations that labor market strength would translate into higher pay.

The Labor department data on Friday showed the 0.2% rise in the second quarter is the smallest since 1982. The number stood at 0.7% in the first quarter. The median forecast of 57 economists surveyed projected a 0.6 percent increase for the total Employment Cost Index (ECI).

Wages and salaries in the US rose in the second quarter at the slowest pace on record, contradicting expectations that labor market strength would translate into higher pay.

(Market News Provided by FXstreet)