Wages are up, but still below their pre-pandemic level
Lots of new numbers today. By coincidence, the PCE figures were released the same day as the latest quarterly reading of the Employment Cost Index. According to the ECI, real wages were up at an annualized rate of 1.3% in Q2 but still well below their pre-pandemic level: In most measures of wages, we see ...continue reading "Wages are up, but still below their pre-pandemic level"