The US labor costs in the second quarter posted its smallest increase in 33 years under lukewarm gains in the private sector, but it was probably a temporary setback in the context of declining spare capacity in the labor market.
The little unexpected increase in the Labor Department reported on Friday, is likely to end not the speculation that the US Federal Reserve will raise interest rates later this year. The US labor market is about to full employment.
The labor cost index, the broadest measure of labor costs rose by 0.2 percent, the Labor Department. This was the smallest increase since the series began in the second quarter of 1982, following an increase of 0.7 percent in the first quarter.
No comments:
Post a Comment