Data Shows US Wages Falling at a 'Striking' Pace from nick whitehard Watch Video

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✓ Published: 19-Mar-2024

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Data Shows , US Wages Falling , at a 'Striking' Pace.<br/>Fox News reports that wage growth <br/>in the United States has slowed <br/>significantly over the past year. .<br/>According to new data from Indeed, <br/>wage growth is beginning <br/>to near pre-pandemic levels. .<br/>Indeed's wage tracker showed that salaries have had <br/>a marked drop since January 2022, suggesting that <br/>employers are seeing less competition for new hires.<br/>The pace of deceleration <br/>is striking. Posted wage growth <br/>has fallen by almost 3 percentage <br/>points over the past year, Nick Bunker, Indeed labor economist, via Fox News.<br/>Fox News reports that the most pronounced <br/>deceleration was found in low-wage sectors. .<br/>Given the huge run-up in posted <br/>wages for those sectors, wage growth <br/>is still above its pre-pandemic pace. <br/>How long this will last is uncertain, Nick Bunker, Indeed labor economist, via Fox News.<br/>After remaining historically tight throughout the last <br/>year, the labor market is expected to continue slowing <br/>in the coming months amid elevated interest rates.<br/>Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.<br/>Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.<br/>In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .<br/>In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .<br/>In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .<br/>Despite this, job growth has <br/>remained resilient, with employers <br/>adding 275,000 jobs in February. .<br/>At the same time, Labor Department <br/>data shows that the unemployment <br/>rate for the month also rose to 3.9%.