The index of the American workers’ patch grew by 2.8% in the second quarter, which is the biggest increase since 2008.
The growth of wages has become a missing component of economic recovery, although over the past year and a half this index has been growing steadily. The Federal Reserve, according to analysts, this week is unlikely to raise interest rates for this reason.
According to the Bureau of Labor Statistics, on Tuesday, the employment index fell by 0.6% for civilian workers during the three-month period ending in June. This led to an increase in the 12-month rate to 2.8%, which is the highest from 2.9% in the third quarter of 2008 amid the financial crisis and the Great Recession.
Andrew Hunter (Andrew Hunter), an economist at Capital Economics in Capital, believes that competition in the labor market inevitably affects the growth of wages in a positive for the workers side.