Wages and Salaries Jump
by the Highest Rate in a Decade Wages and salaries
have jumped 3.1%
over the past year. The 0.9% third quarter
raise beat expectations by 0.4%. Wage growth has been
considered the missing
component of an otherwise
strong U.S. economy. Michael Pearce, senior economist at Capital Economics,
via CNBC U.S. unemployment
is the lowest it's been
in nearly five decades. Historically, wage growth
and low unemployment
leads to high consumer confidence. High consumer confidence
is one of the key signs
of more inflation. Inflation equals to a
general increase in prices and
fall in the purchasing value of money.
